Article

Supporting the e-Business Readiness of Small and Medium-Sized Enterprises: Approaches and Metrics

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Abstract

Government initiatives are continuously being designed to create stable and supportive environments for developing new industries. Presents a conceptual model for use by governments in creating and sustaining an appropriate climate that facilitates the national adoption of e-business. It focuses specifically on the needs of small and medium-sized enterprises (SMEs). Also suggests six categories of e-business readiness metrics and measures to be used for assessing how a country is performing in terms of providing a positive e-business readiness climate. Examples of innovative initiatives are provided from Canada, The Netherlands, Norway, and Singapore. Concludes that a balance among attention to infrastructure components has not yet been achieved in these countries.

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... Companies that have successfully implemented electronic marketing strategies have distinguished performance in the market. Some of the benefits include; increased profits, volume of sales, market share quality service delivery to customers without delay, minimal costs of production, marketing and distribution and new product development (Jutla, Bodorik & Dhaliwal, 2002). On the other hand, it is evident that electronic marketing concept is a new concept in developing countries of the world due to various challenges including inadequate infrastructure to support the concept in all sectors of the economy. ...
... Through that the audience can know the information about companies, their products, making the purchase or creating the contact with one another. Companies can launch a marketing campaign over the Internet, people from everywhere can see it if they access to the website (Jutla, Bodorik & Dhaliwal, 2002). Marketing on the Internet can create more interactivity between companies and customers. ...
... Through a website people can focus on the specific information they want to see, rather than the general information from the television which advertises about companies and products. (Jutla, Bodorik & Dhaliwal, 2002). ...
Article
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The evolution and direction of any marketing strategy in local and international environments has forced firms to adopt electronic marketing strategies to gain competitive edge and viability in the market arena (Bui & Jones, 2006). Fast development of technologies, economic globalization and many other external circumstances stimulate changes in marketing environment. For the company to gain competitive edge in today's market, especially in the electronic market, it must have a good knowledge of the external environment, especially in technological environment that affects business operations. It is important for the company to know and predict environmental conditions that influence marketing activities. Some of the external factors that influence marketing activities of modern companies include; political, economic, social-cultural, and technological factors (Adam, Mulye,Deans & Palihawadana, 2002). The study used descriptive cross sectional census survey. The design is appropriate since all the units of interest were investigated. Comparative analysis amongst all the units was done and the phenomenon under the study described as they appear to be satisfactory. From the findings, it was established that the performance of commercial banks is affected by the electronic marketing strategies selected by the bank. There is a rapid development in technology and hence banks are not being left behind in the adoption of new technology, due to either pressure from customers, stiff competition or change in technology. The banks performance is affected by electronic marketing strategies selected. The banks which have adopted the electronic marketing strategies, the performance is improved, banks which have not yet adopted the electronic marketing strategies are struggling in the performance. The banking sector should embrace electronic marketing strategy in order to survive in the rapidly changing markets. JEL: G21; D20; D83 Article visualizations: </p
... Small and medium-sized enterprises (SMEs) are the backbone of the economy in most countries [1] and account for 80% of the world economy [2]. Many scholars and government officials around the world recognize that most of the newly created jobs are from entrepreneurial startup companies rather than large companies. ...
... In addition, systematically integrating the needs of consumers in the design of products is an important issue for all industries, especially SMEs with insufficient technical means and resources [1]. According to Zhou et al. [16], most SMEs, which account for 80% of the global economy [2], have insufficient financial resources and experts who carry out QFD and Kano Model in them, so there is a limit to applying it to them. Therefore, they propose to convert and use Customer Requirement (CRs) in a way called Customer Requirement Information (CRIs) for easy and proper application to SMEs. ...
... Third, another pivotal contribution of this paper lies in the fact that we focus on SMEs, which is the white space in Kano-QFD research. Most SMEs, which account for 80% of the world economy [2], have not used QFD as a tool for corporate growth due to financial constraints to implement the QFD and Kano Model. We were fortunate to initiate Kano-QFD programs targeting SMEs in Korea, which bore the fruits of Kano-QFD being effectively studied in technology-based SMEs. ...
Article
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Despite the value of QFD (Quality Function Deployment), it has been applied to individual industries, or only to large companies with sufficient QFD-related human resources and sufficient financial resources. Most SMEs, which account for 80% of the world economy, have not been able to benefit from QFD, the tool designed to revamp the growth, due to the lack of financial and human resources to implement QFD and Kano Model. This paper is brought to assess the effectiveness of Kano-QFD approach for technology-based SMEs through the transfer intention model. In order to verify the effectiveness of the above approach, 860 technology-based SMEs in their establishment 3–7 years are researched for the learning transfer intention after the completion of Kano QFD education and training program. The results of this study are that the perceived content validity has the direct effect on learning transfer intention simultaneously with the partial mediating effect through the self-efficacy factor. The learner readiness does not directly influence the learning transfer intention and the self-efficacy completely mediates the learner readiness and the transfer intention. This research contributes to providing critical implications for the educators and training planners in in private sector as well as policy makers of technology-based SMEs in the public sector.
... There is no universal concept for small and medium-sized businesses, with general meanings ranging from country to country and from one industrial field to another. Julta et al.(2002) assert that small and medium-sized businesses have been categorized according to different metrics, such as the cost of assets employed and resource allocation. The concept of small and medium-sized enterprises (SMEs), as presented by the European Union (EU), is accepted as universal; it states that small and medium-sized enterprises (SMEs) are an organization engaged in economic activity; notwithstanding its legal form, it consists of institutions with less than 250 staff, with an annual turnover not exceeding EUR 50 million (€) and a gross annual balance sheet not exceeding EUR 43 million (€) (EU, 2015). ...
... ICT first emerged in the mid-1980s and was described as all communication devices used for radio, networking, and computer-based communications, including desktops, computer games, smartphones, web, card transactions, computer applications, etc. ICT comprises of electronic and technological advances. Computer technology is a medium for storing and manipulating digital forms of information, while information technology allows to transfer and transmit electronic information (Fasiku, 2014;Julta, Bodorick, & Dhaliwal, 2002). ...
Article
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Small and Medium Enterprises (SMEs) play a vital role in growing and building developing nations' national economy. This study investigates a deep understanding of the influence of Information Communication Technology (ICT) on SMEs' performance in Nigeria. The study found out that most SME owners engage in local business practices in nature of the operation, and marketing strategies are limited within the country. Hence, this is a growing concern, the need to broaden the field of doing business through global integration with ICT aid, which would improve the country's economic growth at large. Based on the literature reviewed, this research work helps to identify the underlying causes, limited ICT readiness, its effectiveness and the need for ICT implementation into business processes, and the knowledge of its potential benefit. Therefore, this paper examines the role of ICT in small businesses' performance; this is estimated to enhance firm productivity and increase profitability, improving overall SMEs' performance. The study recommends that provision be made for more ICT training facilities, and SMEs need to embrace information and communication technology in terms of resources, networks, and consumer skills. Entrepreneurs are to be enlightened and educated on how ICT can be used to boost operating efficiency. The government should create an enabling environment by offering ICT infrastructure that will promote its growth and implementation in SMEs. This study's data relied on secondary data and current research on SMEs worldwide, focusing on Nigeria.
... Culture is decided as social-culture, knowledge, innovation, attitude, and behavior to respond to digitalization (Carmen et al., 2020;Jutla et al., 2002;Straatmann, 2016;Wahyuni et al., 2020) emotionally. Besides, satisfaction, trust, and confidence in digital transformation can facilitate change management success. ...
... Education is defined as the readiness of hard and soft skills to prepare technology adoption of digitalization and transfer knowledge, creativity, and innovation (Jutla et al., 2002;Hanafizadeh, 2009;Straatmann, 2016). Chiara et al. (2020) stated that people without ICT skills and education would be nothing in the new era. ...
Article
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The development of small and medium enterprises (SMEs) becomes the benchmark and leading position for developing countries’ economies. The digital transformation demands strategies, desires, and awareness of Information Technology (IT)-based market players and investments. Despite the transformation of a digital business platform, many SMEs have stumbled in the middle road. Therefore, this study aimed to determine priority indicators in assessing SMEs’ readiness towards digitalization and evolving a readiness model for SMEs based on the Decision Support System (DSS) approach. Multiple stakeholders’ viewpoints, particularly regarding academicians, governments, investors, market places, and SMEs’ business actors as targeted respondents, were scrutinized quantitatively and qualitatively to verify the proposed factors. The priority weights of factors have been examined from economic and IT perspectives and derived through deploying the Fuzzy Analytical Hierarchy Process (F-AHP) method. This study reveals the rank of measures necessary to assess the readiness of the digital revolution of SMEs. Transaction preparedness in SMEs’ cultural, educational, financial, and technological infrastructure views grows into the principal components during this assessment with 0.30 of vector value, accompanied by marketing and micro-environment at 0.24, management at 0.20, macro-environment at 0.03 and business activities at 0.02, respectively. For the recommendation purposes, the rubric segmented SME fitness into three levels, low, middle, and high performance. The prototype system DSS-SMEsReadiness was then evolved in order to simplify the adoption of the DSS method in the SME performance measurement model. The software analysis demonstrates that this application would assist decision-makers to ascertain SMEs’ readiness to digitalize. The future recommendation provides SMEs and stakeholders with knowledge transfers and acclimatization for taking the appropriate option about their business strategy, management resources, skills, and assistance programs for SMEs. This model attempts to reduce SME digitalization disruptions and achieve a digital business’s growth and sustainability in a nutshell.
... It is a way to enter a foreign market helping even small enterprises to accelerate their foreign development, while reducing the risk associated with traditional internationalization processes (Mir-Bernal et al., 2018). The SME`s characteristics and their flatter organizational structure make them more predisposed to facilitate innovation (Bodorick et al., 2002), and are at the forefront when testing new e-commerce models despite their limited resources (Dongen et al., 2002;Osano, 2019). Based on the literature review Sanchez-Torres and Juarez-Acosta (2019) distinguished three groups of key factors in the adoption of e-commerce in SMEs: (1) organizational or internal (i.e. ...
... For many companies, e-commerce presents an affordable price to enter global market before establishing major business relationships (Jeffcoate et al., 2002), and facilitates the company`s expansion into foreign markets (Jones et al., 2002) while reducing physical liabilities, information gaps and operational threats (Guercini et al., 2020). E-commerce readiness and adoption vary by industry (Bodorick et al., 2002). The fashion industry is one of the most actively internationalized retail sectors and clothing is by far the most popular product bought online by global consumers (Jin and Cedrola, 2016). ...
Article
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Purpose The aim of this paper is to identify ways and motives of application of e-commerce in the foreign expansion of small and medium enterprises (SMEs) fashion brands. Design/methodology/approach A multiple case study was used as the research method. Data were obtained from primarily in-depth interviews with managers of four Polish SMEs –fashion brands owners, whose products are sold in the foreign markets using e-commerce, and secondary sources. Findings Through this study the authors identified both strategic-proactive and market-reactive motives of e-commerce applications in SMEs’ fashion brands in the internet-enabled foreign expansion and three different models of usage of e-commerce in the foreign expansion of SMEs. Research limitations/implications The research was based on the multiple case study of only Polish SMEs in the fashion industry. The conclusions of this study can be applied by fashion companies in their internet-based foreign expansion. Originality/value This study contributes to the existing body of literature on the internationalization process of SMEs, and particularly on the application of cross-border e-commerce in the foreign internet-enabled expansion of fashion SMEs by identifying three various models of applying e-commerce, in the internet-enabled foreign expansion and their both proactive and reactive motives.
... Typically, in SMEs there is a shortage of workers, knowledge and financial resources. In addition, there is a notable lack of knowledge regarding the adoption of new technology and strategies of development (Jutla et al., 2002;Caskey et al., 2001). ...
Thesis
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This thesis investigates the implementation of Building Information Modelling (BIM) Level 2 in Small and Medium sized enterprises (SMEs) in the UK construction industry. The research has found that the main focus of literature and existing frameworks regarding BIM adoption and implementation has been on larger companies and so the implementation of this technology in SMEs has been lagging behind. . This slow adoption, has led to a competitive disadvantage for SMEs in public projects and possibly private projects, in particular, after the UK government has mandated the use of BIM Level 2 in all public projects from 2016. Therefore, the main aim of this thesis is to bridge this gap by exploring the current situation of BIM Level 2 implementation within SMEs, as well as proposing a validated framework which supports SMEs in BIM Level 2 implementation process. The present thesis has adopted an interpretivist research philosophy and the approach was inductive in nature. To collect the data from the selected case studies, a semi-structured interview protocol was designed in accordance with the research objectives which was aimed at getting the views and opinions of a sample of 25 professional in the UK construction industry in three case studies. This study has identified 15 critical success factors which have influenced the adoption and implementation of BIM Level 2 within SMEs, which included 12 critical factors previously mentioned in the literature and 3 new proposed critical success factors, which were: control of performance, use of an external consultant and knowledge transfer. All 15 factors were classified into four categories, which included: human factors, organisational factors, process factors and external factors. They were then mapped into the implementation lifecycle based on their importance for achieving a successful implementation. In addition to these theoretical contributions, this thesis also makes a contribution to practice for SMEs in the UK construction industry by identifying the critical success factors that are important for successful implementation and by providing SMEs a framework and a set of recommendations to assist them throughout the implementation process
... Digital literacy concentrating on platform selling, digital marketing, internet banking and others are potential intervention areas. It must enter technological alliances with local and foreign enterprises, research and development institutions and technology development centres (Jutla et al., 2002;Mukherjee, 2018;Sakai, 2002). ...
Article
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Using outcomes like sales revenue and network building, we examine the implications of adopting Information and Communication Technology (ICT) for micro and small enterprises (MSEs) in transition economies. Adopting a mixed-method approach that combines primary survey data with field insights, we find a positive association between the use of ICT and revenue generation in MSEs. Users of digital attributes achieved higher overall sales revenue, and this trend is consistent across enterprise types. Digital capital and entrepreneurial vision propel enterprise innovativeness, whilst owner considerations impact networks, performance and expansion. The results indicate that ICT not only directly influences the trade relations of entrepreneurs but also qualifies the embedded considerations of network building, resulting in distinct trade relationships that are otherwise challenging to capture. We also establish a robust link between ICT investments and enterprise outcomes. ICT also emerges as a solution for the survival and growth of firms whilst addressing select sustainable development goals (SDGs). The findings advocate for augmenting digital investment and literacy to address sustainability transition in MSEs.
... Usaha kecil dan mikro perlu mengikuti kemajuan teknologi untuk mendapatkan akses ke pasar dan menemukan area operasi baru. UKM berkontribusi langsung pada perekonomian nasional dan menyumbang 80% dari pertumbuhan ekonomi secara keseluruhan (Jutla et al., 2002;Sebastian et al., 2017;Vial, 2019). ...
Article
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Business demands for the use of technology in the marketing activities of small and medium enterprises have become mandatory to be met. Business competition and increasingly high business creativity require every small and micro business actor to carry out marketing strategies that are adapted to the times. The need for the internet is mandatory in all activities including business activities. Therefore, small and micro business actors must master digital marketing as one of the most effective tools in marketing products and services. This community service activity aims to increase the insight into knowledge, as well as the skills of small and micro business actors in terms of utilizing digital marketing, in this case the mastery of social meda. This activity was attended by 25 small and micro business participants using the seminar method, explanation of power point slides and LCD projectors, sharing experiences and discussions, as well as direct practice of creating social media accounts (business whatsapp, facebook, Instagram, tik-tok). This community service was carried out in Makroman Village, Welcome District, Samarinda City. The results show that several micro-small business groups have been active in implementing social media as a medium for promoting their business, although there are still many people who have not mapped online business accounts with accounts for personal gain. All participants showed great interest and attention in this activity and they have used marketing media through social media as a promotional medium on an ongoing basis.
... The sustainable growth of any nation depends not only on the large-scale industries but also depends upon the small and medium-scale industries which are the major source of employment generation and utilization of indigenously available resources. As ancillary units, SMEs are complementary to large-scale industries by fulfilling primary requirements (Jutla, Bodorik, and Dhaliwal, 2002). Due to their significant contribution to Indian GDP and employment, SMEs are vital for the Indian economic structure and are considered the backbone of the economy. ...
Conference Paper
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The emergence of “Industry 4.0” signifies a new industrial era, where various technologies converge to provide digital solutions. Industry 4.0 (I4.0), encompasses a range of digital technologies that profoundly impact manufacturing businesses. However, there is limited knowledge regarding how businesses utilize these technologies. This paper addresses the pillars of Industry 4.0, a crucial part of the next industrial revolution for Indian manufacturing industries aiming to become competitive smart factories in the global market. A survey of 73 Indian industries assessed their current technologies. Implementation criteria for Industry 4.0 in Indian industries were established based on the survey results. The findings reveal that customer satisfaction and quality are top priorities for Indian industries. While most industries have implemented Industry 3.0 practices, awareness and adoption of I4.0 still pose challenges, particularly for SMEs. This report analyzes the technological status of Indian industries, identifies the gap, and provides a roadmap for adopting Industry 4.0. Bridging this knowledge gap and embracing Industry 4.0 can enhance competitiveness, drive innovation, and meet the evolving demands of the global market. The transition to smart factories powered by Industry 4.0 unlocks new opportunities for India’s industrial sector, propelling it towards a prosperous future.
... World over regulators and authorities have established policies and support measures for SMEs to realize the importance of the adoption of ICT in their business processes. Even though there had been supporting from the regulators and governments, encouraging the SME sector to utilize ICT in business processes, it has been observed that the sector has been slow in implementing ICT-enabled processes for multiple reasons (Houghton and Winklhofer, 2004;Smallbone et al., 2001;Dawn et al., 2002;and Lawson et al., 2003). ...
Article
Digital technology can contribute immense growth to the Small Business sector. Though the awareness level about the process is limited and the speed of digital inclusion is prolonged, the sector has started adopting digital platforms in varied forms during the pandemic. There are challenges on account of the diverse nature of business as well as the levels of infrastructure available for the sector. This study examined the extent of digitalization in the SME sector in the state of Kerala, in India. Business processes in 420 establishments in the sector have been studied to assess the extent of digitalization and its influence on the growth of SMEs.
... Current estimates indicate that the Gross Domestic Product (GDP) distribution amongst the South African SME sector is 51 percent by medium enterprises and 13 percent by small businesses (Tassiopoulos, 2010). In global economies, SME GDP distribution is over 80 percent (Jutla, Bodorick & Dhaliwal, 2002), as compared to the 65 percent contribution from their larger counterparts (Cronje et al., 2004). This sector tends to differ from large enterprises in that they stimulate competition, bring about a diversity of products and services, have increased flexibility in their internal and external systems and possess hands-on managerial style, which facilitates faster decision-making (Kendall et al., 2001). ...
Article
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In a knowledge society, organizations need to develop competitive advantages through the effective utilization of electronic marketing in order to succeed in markets. The study complements existing literature and research by examining factors that assist in the adoption of electronic marketing by SMEs. Primary data was collected using a quantitative research technique through the use of a structured questionnaire. A random sample of 123 SMEs were drawn randomly within the various municipal areas in the Vaal Triangle. Principal component analysis with Varimax rotation was employed to identify the factors pertaining to the drivers of e-marketing adoption among SMEs. A five-dimensional structure, pertinent to the understanding of SMEs decisions to adopt e-marketing technology was established. Perceived ease of use (PEOU), external pressure, mission, job performance, resource availability and compatibility were found to be significant drivers of e-marketing adoption. The analysis present marketers with strategies to amplify Internet technological adoption. It further provides insight for SME owners that may potentially influence the implementation of intervention strategies that support e-marketing adoption. A study on the potential influence of e-marketing on firm performance in emerging economies is a worthy area for future research.
... Current estimates indicate that the Gross Domestic Product (GDP) distribution amongst the South African SME sector is 51 percent by medium enterprises and 13 percent by small businesses (Tassiopoulos, 2010). In global economies, SME GDP distribution is over 80 percent (Jutla, Bodorick & Dhaliwal, 2002), as compared to the 65 percent contribution from their larger counterparts (Cronje et al., 2004). This sector tends to differ from large enterprises in that they stimulate competition, bring about a diversity of products and services, have increased flexibility in their internal and external systems and possess hands-on managerial style, which facilitates faster decision-making (Kendall et al., 2001). ...
Article
Full-text available
In a knowledge society, organizations need to develop competitive advantages through the effective utilization of electronic marketing in order to succeed in markets. The study complements existing literature and research by examining factors that assist in the adoption of electronic marketing by SMEs. Primary data was collected using a quantitative research technique through the use of a structured questionnaire. A random sample of 123 SMEs were drawn randomly within the various municipal areas in the Vaal Triangle. Principal component analysis with Varimax rotation was employed to identify the factors pertaining to the drivers of e-marketing adoption among SMEs. A five-dimensional structure, pertinent to the understanding of SMEs decisions to adopt e-marketing technology was established. Perceived ease of use (PEOU), external pressure, mission, job performance, resource availability and compatibility were found to be significant drivers of e-marketing adoption. The analysis present marketers with strategies to amplify Internet technological adoption. It further provides insight for SME owners that may potentially influence the implementation of intervention strategies that support e-marketing adoption. A study on the potential influence of e-marketing on firm performance in emerging economies is a worthy area for future research.
... According to Jutla et al. (2002), MSMEs are contributing significantly to the economy and the economic growth of a country. As one of the developing countries, the economic growth of Indonesia is also largely supported by the existence of Micro, Small, and Medium Enterprises (MSMEs) (Hayasi 2007). ...
... The participation of SMEs in the e-grocery sector is critical, considering that they are the engine of economic growth [17], are linked to 80% of global economic growth [22], and make a 90% contribution to the African continent's economy. Therefore, it needs to be asked how research can contribute to the development of SMEs and reposition those in the e-grocery sector to play a meaningful role in the transformation of developing economies and allow access to the global online grocery market that is expected to grow from $189.81 billion in 2019 [8], up to $975. ...
Article
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This paper explores how small and medium-sized e-grocery mobile application retailers evolving within the geographical context of South Africa and operating in the urban, township, and rural areas respond to theoretically and emerging field-based e-business and e-grocery adoption challenges, respectively. The study used semi-structured qualitative interviews to explore the coping strategies of e-grocery mobile application retailers to mitigate technological, organizational, and environmental (TOE) adoption challenges. The significance of small grocery adoption strategies related to context informs e-grocery adoption from the evidence generated in other small e-grocers and for the superior grade of TOE (or theoretical) knowledge sought from the inevitable evolving mobile application and digital grocery markets. The findings reveal that specialist skills and unified team production are crucial conduits for lowering the TOE barriers to e-business and e-grocery adoption. They also reveal the interconnected resource orchestration, shared value, and social inclusion strategies used to mitigate various e-business and e-grocery challenges.
... Small and medium enterprises (SMEs) are mostly supplier for large industries (Singh and Kaur, 2019). Because they contribute for 80% of global economic growth, SMEs are regarded as the backbone of economic growth in all countries (Jutla et al., 2002;Sraun and Singh, 2017). In India, 95% of industrial units are small-scale, adding 40% of the manufacturing sector's value and contributing 6.29% to the country's gross domestic product (Singh et al., 2008;Hariharan, 2021). ...
... Data terbaru per 2017 menunjukkan bahwa UMKM di Indonesia terbukti mampu menopang PDB Indonesia sebesar 60% atau meningkat 9,02% dibandingkan tahun 2016, jumlah UMKM pun kian meningkat dan bahkan memiliki proporsi sekitar 99,9% dari total usaha yang ada di Indonesia [14]. Kondisi tersebut juga dilegitimasi oleh beberapa peneliti yang menyebutkan bahwa UMKM merupakan mesin pertumbuhan ekonomi dunia, karena perannya dalam menciptakan lapangan pekerjaan dan dapat mempertahankan keseimbangan makroekonomi [15]- [17]. Keselarasan yang terjalin antara peran fintech dalam bisnis dan peran UMKM dalam perekonomian, mengisyaratkan bahwa sudah sepatutnya UMKM untuk terus didukung agar dapat berkembang melalui pemanfaatan kecanggihan teknologi saat ini, seperti pembayaran digital yang relatif mudah dijangkau oleh para pelaku UMKM. ...
Article
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The purpose of this study is to describe and interpret the challenges and opportunities of financial technology (fintech) to the development of SMEs. This research tries to capture the interpretation of research subject that is SMEs’ owners, fintech company’s staff as service provider. This research uses descriptive qualitative approach because the data analysis in this research is written or oral and consider the opinion of research resource. Based on the interview to the SME’s owners, we can conclude that they have a good interpretation of fintech, that fintech is something that bring financial services to technology, and that this thing is beneficial for their business development, although not all the SMES owners use this platform. This research also shows that in adopting fintech, SMEs need to consider drivers and barriers that can affect the success of the implementation. This research has identified time, information and skill, concerns over security, legal issues, market needs, the nominal of the transaction and the doubt of the technology to their business practices as the barriers why fintech adoption by SMEs in Gresik Area has still faced any challenges. But in the other hand, there are also opportunities that can be used by SMEs through this platform to expand their business, that is the ease and attractiveness offered by fintech and opportunities to minimize fraud. Finally, the paper recognizes that the support mechanisms for the implementation of fintech within SMEs still has to be increased. Fintech has a future here, SMEs’ owners agreed that fintech is their future. But the rapid development of fintech is increasing the need for financial education. SMEs need full assistance by the regulator to improve their financial literacy to take the most advantage of the financial opportunities made possible by fintech.Kata kunci: fintech; SMEs, opportunities and challenge
... However, in the early stages of its implementation, there are still many things that need to be improved by business players, who must be prepared to attempt difficult things and learn from their mistakes. According to the research from Jutla, Bodorik, and Dhaliwal (2002), the support from all parties is important for workers when they use e-commerce. ...
Article
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This study aims to analyze the factors that the SME onwers in Tanjung Lesung need to promote their products through e-commerce. This study employed a quantitative method, presenting 23 questions anticipated to provide insight into the research problem. This study purposively selected 300 samples of small and medium-sized business owners who use the internet to sell their products. The results show that the management relationship between productivity and actual behavior revealed a favorable relationship between perceived usefulness and actual behavior, but a negative relationship between external pressure on actual behavior and organizational support for actual behavior. The study's limitations included the impact of internet usage via e-commerce on small and medium-sized businesses. Keywords : Actual Behavior, External Pressure, Managerial Productivity, Organizational Support, Perceived Usefulness
... Nevertheless, the disclosure of non-financial information is the tool through which the company manages to satisfy a broader category of stakeholders, other than investors, by providing insights regarding the overall strategy (Du and Yu 2020). In addition, non-financial disclosure not only increases the accuracy of analysts' forecasts, but it also influences the financial performance of firms (Dawn et al. 2002). This increase in financial performance can also be attributed to improving employee well-being as a result of CSR implementation, thereby fostering greater productivity (Edmans 2011). ...
Chapter
In the last decade, corporate reporting has undergone a radical transformation, adding sustainability reporting to traditional financial reporting. The Barnier Directive (2014/95/EU) introduced into European law the obligation for large public-interest entities to prepare and publish a non-financial statement. This document must contain information relating to the environment, the social sphere, employee matters, respect for human rights, and the fight against active and passive corruption, aimed at ensuring an understanding of the company’s activities, performance, results, and impact. Indeed, to date, managers consider it necessary to adopt a holistic approach, considering both financial and non-financial aspects, to ensure the protection of the creation of corporate value. On April 2021, the European Commission adopted a proposal of Corporate Sustainability Reporting Directive (CSRD) aiming at improving sustainability reporting in order to contribute to the transition towards a fully sustainable and inclusive economic and financial system. In this context, the topic of sustainability reporting has become relevant for companies. This paper reviews the main frameworks and standards developed by international standards available to companies, investigating the level of adoption by a sample of European listed companies.KeywordsFrameworkInternational standard setterSustainabilityReportingJEL ClassificationQ56M10G30
... Nevertheless, the disclosure of non-financial information is the tool through which the company manages to satisfy a broader category of stakeholders, other than investors, by providing insights regarding the overall strategy (Du and Yu 2020). In addition, non-financial disclosure not only increases the accuracy of analysts' forecasts, but it also influences the financial performance of firms (Dawn et al. 2002). This increase in financial performance can also be attributed to improving employee well-being as a result of CSR implementation, thereby fostering greater productivity (Edmans 2011). ...
Chapter
Social capital has declined in both developments and in other developing economies, while income inequality has tended to increase. Recent studies show the correlation between social capital and income inequalities, while few studies analyse the direction of causality at a macro level. This paper aims to investigate the causal relationship between generalised trust, as well as income inequalities in 23 economies belonging to the Organisation for Economic Cooperation and Development (OECD) from 2000 to 2019. In this study, we use the application of a fully modified least squares model (FMOLS) and the canonical correlation regression estimator (CCR). In addition, the unit root and cointegration test is applied before applying the Granger causality test. The findings show that there is a bidirectional relationship between social capital and income inequality.
... Nevertheless, the disclosure of non-financial information is the tool through which the company manages to satisfy a broader category of stakeholders, other than investors, by providing insights regarding the overall strategy (Du and Yu 2020). In addition, non-financial disclosure not only increases the accuracy of analysts' forecasts, but it also influences the financial performance of firms (Dawn et al. 2002). This increase in financial performance can also be attributed to improving employee well-being as a result of CSR implementation, thereby fostering greater productivity (Edmans 2011). ...
Chapter
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This paper presents a conceptualization of the utility of Service-Dominant Logic (SDL) in theoretically underpinning the value co-creation process that emerges from the interactions and relationships of place visitors with local resource integrators of destinations. Under the SDL of marketing, service becomes the ontological content of the place brand and a fundamental mechanism of the exchange of place-branded products. The work is based on the Vargo and Lusch (J Acad Mark Sci 36(1):1–10, 2008) premise, that service is the fundamental basis of exchange, and builds an argument about how operant resources can be deployed by place marketers, as a source of competitive advantage to sustain loyalty to place visitors. It proceeds to explain how to place marketers (i.e., hospitality services, tourist attractions, etc.) co-create value with place visitors (customers) to generate effects that stimulate visitor loyalty and build the place brand. The relationships that develop between the customers and place marketers are embedded in a service ecosystem, which appreciates the phenomenologically determined perceptions of value of the parties and stimulates place visitors to repeat customs. The paper argues in favor of the integration of the roles of the customers and service suppliers in the formation of a value output, which becomes input in the identity of a place.
... Items were adapted from [49] for the constructs of Entrepreneurship Orientation (risktaking, innovativeness and proactiveness). [50] and [51] for organizational effectiveness while the construct for employee satisfaction were adapted from the works of [52] and [53]. All were on a 5point Likert scale (1= strongly disagree, 5 = strongly agree). ...
Article
This empirical study investigated the impact of entrepreneurial orientation (OE) on organizational performance (OP) of quoted breweries in Nigeria considering the mediating effect of organizational embeddedness in the OE-OP relationship under the theoretical lens of the Resource Based (RBV) theory. The focus was on the five quoted breweries in Nigeria- Guinness Nigeria Plc, Nigeria Breweries Plc, Champions Breweries Plc, Golden Guinea Breweries Plc and International Breweries Plc. The study used survey design. Data were collected from 1,120 employees of the five quoted breweries through a questionnaire and analyzed by Partial Least Square - Structural Equation Modeling (Maximum Likelihood). The result showed a significant positive relationship between entrepreneurial orientation (risk-taking, innovativeness and proactiveness) and organizational performance (organizational effectiveness and employee satisfaction) and concluded that organizational embeddedness positively mediates the relationship between entrepreneurial orientation and organizational performance. The findings of this study provide organizational performance guidelines for management of the breweries. The research work considers the effect of the mediating role of organizational embeddedness in the entrepreneurial orientation – organizational performance relationship. This is a gap that has not been fully investigated in the literatures reviewed.
... The current research will examine to what extent we have sought to understand the field of small businesses. Small and medium enterprises (SMMEs) or popularly called Small medium and micro enterprises (SMMEs) are regarded as the pillar of economic growth in all developing and developed countries because they account for 80 percent of global economic growth(Jutla, et al., 2002). South Africa was a closed economy for a long time during apartheid. ...
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Small, Medium and Micro Enterprises (SMMEs) play a key role in transition and developing countries. These firms typically account for more than 90% of all firms outside the agricultural sector, constitute a major source of employment and generate significant domestic and export earnings. The aim of the research was to investigate the viability of small, micro and medium enterprises (SMMEs) in the manufacturing sector in the eThekwini municipal area. This sector is labour intensive and it has a potential to create more jobs than any other sector. The aim of the research was to understand challenges and success areas that SMMEs face in their quest to establish and run sustainable businesses. Public procurement is the process by which government departments or agencies purchase goods and services from the private sector (Lysons & Farrington, 2006). There are 8 factors that were identified and discussed in the literature review with an aim to understand what body of knowledge is understood in this field. A probability sample of 150 people was chosen drawn from an estimated 2150 SMMEs in the manufacturing sector. The questionnaire was designed with a sole purpose of sourcing valuable information from participants. There were 230 people were emailed and two business groups were sent a link in their Facebook Page for participation in the survey. A response rate of 47% was achieved; many dropped out and did not complete the survey. The participants were recruited using the municipal database of SMMEs and through the Chamber of Business in Durban SMMEs database. The main areas were business district areas in and around the city of Durban, these included Tongaat, Phoenix, KwaMashu, Pinetown, Inanda, Umlazi and Amanzimtoti as key points of focus. The findings show that many of the respondents were contributing to the employment in their SMMEs. The majority of SMMEs employed at least 5 people in their businesses and they had at least one graduate in their employment. This was crucial because there is a need for SMMEs to have skilled employees and professionals in order to ensure that they were compliant to legislation. The study also discovered that there is a lot of red tape in the process of establishing the SMMES; this led a number of them not being formally registered. It was also shown that many SMMEs were aware of government institutions that were assisting SMMEs and had at least approached them to get assistance but a number of them did not get assistance. It is recommended that a thorough study looking in detail at the government interventions should be ensued. There is a need for proper coordination of purpose in government to ensure that people access their services. The study recommends that the government should reduce the level of bureaucracy seen in long procurement procedures.
... However, the turning point comes when marketers out-compete each other based on information and service quality (Hamill, 1997;Elliot &Sewry, 2006). The SME sector remains one of the most promising economic sectors contributing approximately 30% of the gross domestic product (GDP) in South Africa and over 80% in global economies (Jutla, Bodorick& Dhaliwal, 2002). Cronje, Du Toit and Motlatla (2004) state that SMMEs act as a catalyst for economic growth as well as for the development of the arts, human resources, manufacturing and sport sectors. ...
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E-marketing is spreading extensively, since the majority of businesses as they are trying to enter the global market through this technology. Apart from entering the global market, this technology comes with various advantages. It is from this understanding; this study intended to understand how E-marketing can enhance strategic marketing in small and Medium Manufacturing Enterprises (SMMEs) in Dar es Salaam. The study used a causal-comparative research strategy, to explain how the use of information technology affected the SMME marketing strategies. While simple random techniques were applied to collect data in order to meet the research question. The study found that SMMEs are slowly adopting E-marketing operations. This is due to weaknesses caused by inadequate knowledge related to benefits that come with E-marketing technology. Others are inadequate resources to meet the initial cost to embrace the technology as well as the culture to fear risks and changes. In turn, there is a gap existing between the business and customers' satisfaction, since SMMEs incur huge costs on communication to meet the customers' products test and order fulfilment. Therefore, the study recommended the adoption of E-marketing to meet the strategic challenges related to marketing. The application of E-marketing in SMMEs can also create leverage drawn from the interaction between business and customers. On the other hand, the SMMEs needs to invest strategically in infrastructure and human resource development (skills)
... SMEs need to deal with these technological advances and reward them for gaining access to markets and discovering new areas of operation. The SMEs contribute directly to national economies and account for 80% of overall economic growth (Jutla et al., 2002;Poon & Swatman, 1999). Even though DT provides a wonderful opportunity for employers to overcome the limitations of DT. ...
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Researchers have mentioned the importance of digitization in improving efficiency and productivity in Small and Medium Enterprises (SME). Fortunately, there is no proof that Digitization can be used to deal with the outcome of severe incidents like COVID-19. The research paper suggested that the increased rate of SMEs has increased significantly. This was entirely due to the advent of Digital Technology (DT). In this way, both product and the process become more automated in digitalization, resulting in increased quality and demand. Considering the high scope for higher development, India's SME sector still has much space for new digital technologies to be integrated. This paper addresses the main scenario of SMEs in India and their benefit in GDP. Also, the research includes a brief analysis of CRM applications and digital payment options in SMEs.
... This is especially so in developing countries, where SMEs are constrained by a lack of telecommunication infrastructure, qualified staff to develop e-business, limited consumer skills in internet usage [11,13,16], lack of timely supply and distribution systems for delivery of goods [17], low income, low credit card penetration, and low internet and computer penetration [10,12,16,39]. Yet, SMEs are considered to be the engines of economic growth and employment for many countries [6,41], accounting for 80% of global economic growth [42], while they make a 90% contribution to the African continent [10]. ...
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E-business benefit both large and small businesses. However, the aggregate cost of successful online trading, including initial and recurring costs, continues to pose a great challenge to micro-enterprises. For these willing businesses, the result is a mere web presence and for some, the thought of trading online is a no-go area. Using a multi-case study qualitative approach, this study adopts the technology-organisation-environment theoretical lens to explore empirically the strategies used by e-retail microbusinesses to potentially advance their e-business adoption. The findings revealed the actual cost of adoption, the technology-organisation-environment strategies in use to lower the cost barrier, and how the pursuit of the cost barrier simultaneously lowers some adoption barriers outside the cost factors. The study also highlighted the intrinsic idiosyncratic nature of small firms’ ecosystems, and the fact that government resources and services provided by companies, both private and public, could effectively reduce the costs associated with e-business adoption.
... The economic development of both established and emerging markets such as India is driven by small and medium enterprises (SMEs) (Jutla et al. 2002). They are primarily responsible for poverty alleviation, employment generation, income generation, and wealth creation (Cook and Nixon 2000). ...
Chapter
The aim of the study is to review and analyze the investment portfolios of life insurance companies in Bulgaria in view of the new regulatory requirements, actual business model trends, and current financial market environment. Investments are an integral part of the life insurance business model. In the study, Bulgarian life insurance sector is examined—regulations on investments, investment policy, and type of investments. Along with this, the accounting approach, accounting treatment, applicable accounting standards, and specific characteristics of all the financial instruments included in the portfolios of Bulgarian life insurance are examined. Last but not least, the paper also investigates whether asset allocation trends for Bulgarian life insurance companies are similar to the trends for European insurance sector. Data for life insurance companies’ investments are obtained from publicly available sources and include five-year period 2014–2018. Respective literature related to life insurance, financial instruments, investments, and accounting standards is reviewed. It is worth mentioning that life insurers are among the largest institutional investors in Bulgaria. Findings show that there have been new specific trends for Bulgarian life insurance companies, in terms of their investment portfolios, list of involved financial instruments throughout recent years. General conclusion is that investments of life insurance companies are changing and rebalancing is experienced with major factors strict regulatory investment limits, low yield environment, change of business model, and conservative risk management approach.
... During the last three decades, small and medium enterprises (SMEs) have been very important players in all the economies of the world (Mira 2006;Ongori and Migiro 2009). SMEs are considered as the main developing force of economic growth in all countries (Jutla et al. 2002;Singh et al. 2010). Many researchers have noted SMEs make a significant contribution to the development of the economy (Grandon and Pearson 2004;Bollweg et al. 2019) and continue to act as a catalyst for the growth of new industries and also sustain the existing ones (Ormazabal et al. 2018). ...
Chapter
SMEs have always been hailed as economic drivers and the major employer, across industries and nations. And though receiving, perhaps, less attention than they deserve compared to their larger counterparts, their attributes, role and style have always intrigued business scholars. SMEs, however, have seen their identity and position against large companies and customers change drastically over the information technology revolution of the past two decades. A period that has partly weakened them against competition from large global companies, but which has also armed them with competencies and opportunities to do things and reach customers that were unimaginable in the recent past. This chapter undertakes a comprehensive review of extant scientific works to identify the range and nature of opportunities and challenges faced by SME in contemporary business in the context of digitalization and information and communication technological developments.
... The Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UMKM) propelled the same number of as 3.79 million smaller scales, little and medium undertakings (MSMEs) have utilized an online stage in showcasing their items. This number plays 8 percent of all current SMEs in Indonesia, which is 59.2 million and is assessed to speak to 80 percent of the overall monetary turn of events [6]. Computerized showcasing has likewise been broadly used to advance the travel industry around the globe [4], just rare sorts of people who effectively utilize web-based life as their promotion tools and they have not separated their online shop account with their account, several others use it occasionally, and the rest participants have never used social media marketing for being lack of technological skill. ...
... Premkumar & Roberts, 1999;Scupola, 2003;Thong, 1999) • Outsourcing elements (Teng et al., 1995;Turban et al., 2000) • Buyers and Suppliers' pressure (Abell & Lim, 1996;Premkumar & Roberts, 1999;Rashid & Al-Qirim, 2001;Scupola, 2003) • Business Partner (Iacovou et al., 1995) • E-Commerce Benefits (Scupola, 2003) • Availability of capital, inflation (É. Technology related factors Information technology related attributes that promote or deter the SME's adoption decision • Technology availability (Scupola, 2003) • Complexity (Rashid & Al-Qirim, 2001) • Benefits: usefulness (Iacovou et al., 1995;Poon & Strom, 1997;Rogers, 1995;Vickery, 2002) • Adoption Risk/Cost: (KIMI, 2002;Locke & Cave, 2002;Purao & Campbell, 1998;Rashid & Al-Qirim, 2001) • Security Hazards: (Abell & Lim, 1996;MIC, 2002;Purao & Campbell, 1998) Government related factors Government related attributes (e.g., polities, leadership, initiatives, IT infrastructure, etc.) that affect the adoption decision of the SME • Government Role: leadership, tax break, technology-adoption tax credits, financing, intervention (Jutla, Bodorik, & Dhaliwal, 2002;É. Lefebvre & Lefebvre, 1996;OECD, 2000;Scupola, 2003) • Information channel & trade policies (Kettinger, 1994;É. ...
Chapter
Despite the increased number of SME adopters of information communication technology (ICT) for their business, there are limited studies that address the factors affecting SME’s adoption decision. Especially, a theoretical perspective on E-business adoption model for SMEs is required to better understand the SME’s complex adoption decision process and, in turn, to provide a realistic means of creating guidelines for other SME’s to consider when making their adoption decision. Thus, the goal of this chapter is three-fold: i) to review key literature of the factors affecting SME’s adoption decision and then summarize major determinants of key dimensions with definition and literature sources, ii) to propose a theoretical framework of e-business adoption for SMEs, namely an OBTG (Organizational – Business – Technological - Governmental) e-business adoption model for SMEs, and finally iii) to provide insightful discussions on the driving factors and barriers of the SMEs’ e-business adoption decision.
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The chapter aims to review the current body of knowledge on growth models in manufacturing SMEs within an emerging economy. Empirical evidence on Nigerian manufacturing SMEs, their strategy to grow and develop is discussed. The relevant literature is extensively and systematically reviewed to underpin the theoretical perspective of Nigerian manufacturing SMEs. Qualitative data is used within the empirical discussion. The instrument for the data collection was a face to face semi-structured interview of 17 senior managers and owners of Nigerian manufacturing SMEs. Thematic template analysis has been applied aiming to identify the emerging patterns from the interview to ascertain Nigeria manufacturing SMEs challenges, priorities and key issues considered vital in the development of manufacturing practices. The findings present empirical evidence in understanding SMEs development in dealing with challenges and prioritising their manufacturing practices. The findings have implications on government policy and assists professional practitioners in understanding manufacturing SMEs strategy, priorities and challenges in the emerging economy in the context of Nigeria.
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This study investigates the influence of digital financial inclusion (DFI) on the investment efficiency of small‐ and medium‐sized enterprises (SMEs) in China. Employing a dataset of listed National Equities Exchange and Quotations firms over the period from 2011 to 2020, we find robust evidence that the development of DFI improves the investment efficiency of underinvested SMEs. However, no such effect is observed for overinvested SMEs. The mechanism analysis indicates that DFI can mitigate the underinvestment problem of SMEs by restraining their risk‐taking behaviors and easing their financial constraints. Furthermore, we find that the positive effect of DFI on underinvestment is more pronounced for SMEs with weaker financial statuses or in less competitive industries.
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The phenomenon of the Internet has helped businesses and organizations to understand their existing business application and practices as well as adopt new methods of working, both for existing and potential customers among small and medium-sized enterprises (SMEs). This has enhanced firms' ability to gain a competitive advantage not only locally, but also internationally. This study examined the factors influencing ICT adoption, as well as its usage among SMEs in the Rural sector in Sri Lanka. The study took into consideration innovation diffusion theory (IDT) and characteristics influencing the adoption and usage of ICT among SMEs. in Sri Lankan context there is little empirical research conducted in rural sector
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The classification of land use / land cover (LU/LC) for certain area plays a major role in planning, management, and monitoring programs as well as it helps to study the changes which are happening in the environment and ecosystem. This study aims to evaluate LU/LC changes in Hambantota Divisional Secretariat Division from 2008 to 2019. Hence LU/LC cover changes spatially with time; this study is conducted by using supervised classification, particularly maximum likelihood classification and accuracy assessment using Remote Sensing and GIS techniques. The results revealed that the increment of water bodies (2.39%), agriculture (0.44%) and built-up areas (27.66%), and decrement of barren lands (11.61%) and forest cover (18.88%) with the time due to the vast development over the years. The overall accuracy for both 2008 and 2019 ranged from 86.7 percent to 83.3 percent and the Kappa coefficient ranged from 0.888 to 0.912.
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Although Information and Communication Technology (ICT) provides huge opportunities such as storing, processing, retrieving, disseminating and sharing of information, its use within SMEs in developing nations is still overwhelmed with many challenges that deter effective and efficient management towards the attainment of competitive advantage in the global market. The idea that there is a strong relationship between the process of globalization, information and communications technology and the development of entrepreneurship has long been established in the literature and research. In this paper, the study put the discourse of ICT and the process of globalization in the context of entrepreneurial development in Sub-Saharan Africa. Through theoretical analysis of the extant literature, the study examined the forces shaping the global economy, especially the ubiquitous impact of ICT in terms of enterprise competitiveness. Points of view proffered anchors on the future of SMEs and entrepreneurial firms in Sub-Saharan Africa and are anchored on the development of a viable ICT infrastructure. Secondly, the study examined the relevance of ICT in enterprise development and its role in the development and growth of SMEs. Third, the paper examined the setbacks and problems facing the adoption of ICT among SMEs and entrepreneurial firms in Sub-Saharan Africa. Finally, it suggests some strategies at the disposal of governments and owner/managers of entrepreneurial firms and SMEs to improve the competitiveness of their national economies and individual firms respectively in the global economy.
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When entering a business competition in the digital market, SMEs must have readiness in the use of technology or e-readiness. Readiness to use technology is essential to compete through digital markets that have a broader scope. SMEs in Banyuwangi are trying to enter the digital market by increasing information technology capacity through assistance from the local government through the online marketing website Banyuwangi-mall.com. For this reason, this article attempts to examine the readiness of SMEs to adopt technology (e-readiness) in entering e-commerce facilitated by local governments. This study uses mixed methods by conducting quantitative methods through surveys first. To then be deepened through a qualitative research process conducted with in-depth interviews. The research results show that SMEs that use digital marketing Banyuwangi-mall.com already have a high readiness for technology adoption in the aspects of strategy and management. However, in the aspect of workers, they are still at the middle level, or there are still some shortcomings.
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The SME sector is widely accepted as a seedbed for entrepreneurs in providing various socioeconomic objectives such as unemployment, job creation, innovation, and the long-term economic development of the country. The contribution given by the government on SME inclusive growth of the country is quite impressive. This study attempted to identify the impact of Government intervention on SME performance in the rural sector in Sri Lanka and the perception of SME owners to evaluate the effective government intervention mechanisms. Both primary and secondary data were used. Face-to-face interviews were conducted with 50 SME owners using a structured questionnaire in the Kurunegala district. The study emphasized, there is a significant impact on government intervention programmes and the performance of SMEs in the rural sector. The study emphasized the Government intervention might be vital in supporting four areas i.e. financial inducement, Human resource building, and Brand building, and new trade opportunities.
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Economic growth and job creation through entrepreneurship/SME development is the key concern globally. On the other hand, marketing failure in nascent graduates who choose to start entrepreneurial careers is a big problem due to the lack of digital/entrepreneurial marketing skills that are required for the survival and growth of SMEs. A wide range of studies suggest that the major reason for lacking such valuable skills is the pedagogical and practical gaps in the marketing education at business schools (BSs) worldwide. To address this practical problem, I follow the pragmatic paradigm, and perform in-depth bibliometric analysis. I identify that digital marketing is actually an essential part of the entrepreneurial marketing, which leads me to introduce the term ‘Digital Entrepreneurial Marketing’ (DEM). Based on the analysis, I give detailed practical implications to academic authorities at BSs worldwide for the introduction of DEM courses, particularly focusing on SMEs. Further, I show that DEM is practised equally in both developing and developed countries, thus making its learning relevant worldwide. And lastly, I highlight an alarming situation for BSs worldwide regarding their education quality, which needs to be responded timely with the introduction of courses like DEM.
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Using the number of FinTech firms in each prefecture-level city to measure its development, this study explores the impact of FinTech on the investment efficiency of small and medium-sized enterprises (SMEs). The results show that FinTech development can significantly promote the investment efficiency of local SMEs. These results remain robust after conducting a series of robustness tests, including replacing alternative, dependent variables, controlling for firm fixed effects, controlling for time-varying fixed effects, and using the instrumental variable approach and Difference-in-difference (DID) methods. The mechanism analysis shows that FinTech alleviates the financing constraints of SMEs by reducing the information asymmetry between financial institutions and SMEs, thereby improving their investment efficiency. In addition, a heterogeneity analysis shows that the impact of FinTech on the investment efficiency of SMEs is more pronounced in small-scale private enterprises, industries lacking competition, and cities with slow marketization. Moreover, the findings have important practical significance in the form of policy suggestions for promoting the integration of FinTech and the real economy.
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RESUMO Objetivo del estudio: Los objetivos son realizar un modelo holístico y teóricamente construido que identifique los factores contextuales y organizativos que pudieran afectar al nivel de eReadiness, y determinar qué factores internos y externos a la organización influyen en el nivel de eReadiness de las empresas. Metodología/enfoque: Con una muestra de 88 Pymes, se realizó un estudio cuantitativo, mediante un análisis multivariante de regresión lineal por pasos atrás. Originalidad/Relevancia: Esta investigación analiza el nivel de eReadiness, para comprobar qué factores, internos y externos, influyen en las Pymes en un país desarrollado, en un sentido amplio y no sólo respecto al comercio electrónico. Principales resultados: Los resultados muestran que las PYMES consideran que el reconocimiento de las oportunidades y amenazas de las TIC afecta a su nivel de eRediress y que las estrategias diseñadas por la administración necesitan el apoyo de diferentes instituciones gubernamentales. Contribuciones teóricas/metodológicas: Esta investigación aporta un mejor entendimiento del nivel de eReadiness de las Pymes, indicando los factores, internos y externos, motivan su desarrollo y cuales frenan su crecimiento. Aportes sociales/de gestión: Esta investigación refleja una mejora en la comprensión del grado de eReadiness en las Pymes españolas, lo cual implica que las empresas han establecido estrategias y modelos opcionales con una visión clara de los proyectos en tecnológicos, con implicaciones para la sociedad, pues una mejor eReadiness implica mejor atención a las necesidades de la sociedad. Palabras clave: eReadiness. factores internos. factores externos. Pymes. país desarrollado. ABSTRACT Objective of the study: The objective is to carry out a holistic and theoretically constructed model to identify the contextual and organizational factors that could affect the level of eReadiness, as well as to determine what factors, internal and external to the organization, influence the level of eReadiness of companies. Methodology/approach: The method included a quantitative study with a sample of 88 SMEs, using a multivariate analysis of linear regression by backward steps. Originality/Relevance: This research analyzes the level of eReadiness, to check what factors, internal and external, influence SMEs in a developed country, in a broad sense and not only with respect to electronic commerce. Main results: The results show that SMEs consider that their eReadiness is affected by the variables "recognition of the opportunities" and "ICT threats", and that the strategies designed by the administration need the support of different government institutions. Theoretical/methodological contributions: This research provides a better understanding of the level of eReadiness in small and medium enterprises, indicating the factors, internal and external, that motivate and demotivate their development at the level of eReadiness. Social / management contributions: This research reflects an improvement in the understanding of the degree of eReadiness in Spanish SMEs. Which implies that companies have established strategies and optional models with a clear vision of technology projects, with implications for society; a better technological preparation implies better attention to the needs of society.
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This article attempted to analyse the implementation of digitalisation in small and medium manufacturing enterprises in India. The objective of the study is to determine the impact of the size of the firm on the adoption of digitalisation, and motives for the adoption and challenges faced during the adoption process. Logistic regression, t-Test and descriptive statistics have been used to analyse the data. The study found that the size of the firm is an important factor for the adoption of digitalisation. An increase in sales, profitability, competitive capability and awareness of the brand were found as the most motivating factor for the adoption of digitalisation. Satisfaction with the current system, high cost, the lack of appropriate technology and the lack of top management support were the most important challenges faced by the organisations during the adoption process of digitalisation. The study recommended firms which have not adopted digitalisation to think in this regard as there are several benefits associated with the adoption of digitalisation.
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Electronic Personalization plays a vital role in the growth and development of the hotel industry, whether in a developed or a developing economy. The hotel industry in Kenya has grown enormously since the year 2000, and despite this growth, the hotel industry in Kenya has experienced slow growth compared to other countries. Electronic Personalization has been identified as an electronic customer relationship management strategy that has had a significant impact on hotel performance. The aim of this study is therefore to seek the influence of Electronic Personalization on the performance of Three to Five-Star Hotels in Kenya. The study adopted a descriptive design for the research. In addition, a quantitative and qualitative research approach was utilized. The target population for the study was one hundred and twelve Three to Five-Star Hotels in Kenya. The study examined one hundred and twelve Three to Five-Star Hotels because they represent the major market share of Kenya’s hotel industry. A survey was conducted on the target population. Simple Regression was utilized to draw inference from the data collected. Descriptive findings revealed a mean of 4.524 with a standard deviation of 0.5654 for electronic personalization. In addition, findings revealed an R square value of 0.366 between Electronic Personalization and performance. This suggests that Electronic Personalization influences the performance of Three to Five-Star Hotels. Consequently, hotel managers should develop and implement effective Electronic Personalization strategies in their hotel’s operations. For instance, they can electronically personalize their hotel information by assigning the right marketing effort to the right customer, hence increasing customer buying behaviour which shall in turn increase performance.
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The main emphasis of this research is to empirically study the impact of debt financing on the firm performance of SMEs in India. Panel data analysis is applied to study the association among debt and SMEs firm performance using three financial measures: return on assets (ROA), return on equity (ROE), and gross profit margin (GPM). The sample includes 164 non-financial Indian small and medium enterprises listed in the Bombay stock exchange—Small and medium enterprises (BSE-SME) platform from 2014 to 2018. The results of the study demonstrate that capital structure, especially short-term and long-term debt, has an adverse effect on the efficiency of small and medium enterprises. The study reveals that decisions on capital structures have little impact on SMEs’ financial results. The analysis also proves that the pecking order theory relates to small- and medium-sized enterprises in India. This is the primary research that explores the connection between debt financing and the financial results of Indian SMEs listed on the BSE-SME platform.
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The current research aimed to identify and prioritize the main dimensions underlying the concept of electronic readiness (e-readiness) in university libraries. A mixed exploratory method was used as the research methodology including documentary and survey methods. The literature coding process was confirmed by two different researchers in related fields, which resulted in a conceptual framework including 66 indicators, 12 components and four main dimensions of human resources, electronic infrastructures, networked programs and services, and enablers of the network world. To assess the indicators, a reliable and validated questionnaire derived from the framework was administrated among 221 participants including faculty members in related fields in Iran. By identifying the reliable items using a one-sample t -test, a refined AHP version of the initial questionnaire was also administrated among a set of 20 managers of university libraries located at Tehran city. Findings confirmed the consistency comparison for different matrices, which then resulted in satisfactory and reliable relevance for all components. Findings also showed that the dimensions network programs and services, human resources, electronic infrastructures and enablers of the networked world had the standard relevance respectively. The final framework and its priorities provide library managers and policymakers in higher education with a list of indicators and considerations for appraisal purposes.
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This study empirically examines the performance and obstacles of SMEs in BRICS economies. For empirical evaluation, Ordinary Least Square technique has applied by taking the time period between "2000-2017". Performance has taken as dependent variable and obstacles; firm characteristics and global factor have taken as explanatory variables. Results show that ownership and size have a positive impact on SMEs growth and performance. Age has a negative and significant impact on the performance and growth of SMEs. Technology has a positive and significant impact on the performance of SMEs. Obstacles, i.e. courts, crime, access to finance, practices of competitors and electricity has a negative and significant impact on the performance of SMEs. Access to land, infrastructure and workforce has a positive and significant impact on SMEs performance. It becomes essential for the policymakers or investigators to pay attention towards making SMEs more competent, capable and productive to attain the goal of sustainable development and progress.
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SMEs have been looking at expanding their market share by extending beyond their geographical boundaries and this is where electronic business has come to the forefront. The path to e-business adoption is ridden with barriers and understanding these along with the benefits it offers to SMEs is important. This chapter has reviewed the existing literature of barriers and benefits of e-business adoption by SMEs to identify the various enablers that can facilitate adoption. The chapter also provides an insight into e-readiness and analyses six existing tools that are used globally to measure e-readiness. Based on a comprehensive analysis, an holistic framework (Motivation Application Measurement Support (MAMS) e-readiness assessment framework) has been proposed. The framework can be utilized as a reference to assess, design and implement a supplementary strategic approach for the assessment of e-business readiness of SMEs. Further empirical research to test, amend and improve the MAMS framework can be undertaken in the future.
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It has been widely recognized that Small and Medium size Enterprises(SMEs) not only play an important role in the economy of a country, but are crucial to the country’s economic stability. This article reviews UN and World Economic Forum ICT indicators for assessing the adoption of Information and Communication Technologies (ICT) in Gulf Cooperation Countries (GCC). Also, it presents the results of an exploratory study carried out to learn about the adoption of ICT in SMEs in Oman. The study investigates infrastructure, software used, driver for ICT investment, perceptions about business benefits of ICT and outsourcing trends of SMEs. The study provides an insight on the barriers for the adoption of ICT. Data on these aspects of ICT was collected from 51 SMEs through a survey questionnaire. The results of the study show that only a small number of SMEs in Oman are aware of the benefits of ICT adoption. The main driving forces for ICT investment are to provide better and faster customer service and to stay ahead of the competition. A majority of surveyed SMEs have reported a positive performance and other benefits by utilizing ICT in their businesses. A number of SMEs outsource most of their ICT activities. Lack of internal capabilities, high cost of ICT and lack of information about suitable ICT solutions and implementation were some of the major barriers in adopting ICT. These findings are consistent with other studies. There is a need for more focus and concerted efforts on increasing awareness among SMEs on the benefits of ICT adoption. The results of the study recognize the need for more training facilities in ICT for SMEs, measures to provide ICT products and services at an affordable cost, availability of free professional advice and/or consulting services at reasonable cost to SMEs. Our findings can help policy makers focusing on ICT adoption by SMEs. Also, the findings of this research will provide a foundation for future research and will help policy makers in understanding the current state of affairs of the usage and impact of ICT on SMEs in Oman and other GCC countries.
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The potential of the Internet to both geographically expand customer bases and provide a source of sales growth has led to a rapid embracement of the Internet by a majority of small businesses in the United Kingdom. However, many studies suggest that much of this adoption takes the form of simple Web sites representing little more than an electronic brochure. Although theories and models have been proposed suggesting adoption and development of e-commerce takes a staged process, with firms moving to more complex e-commerce processes after first mastering simpler forms of Web site, studies have found mixed evidence with regard to this. This chapter investigates the level of Small and Medium Enterprise (SME) Web site adoption and functionality and how this relates to growth aspirations, specifically the geographical expansion of customer bases. One potential explanation for this slow uptake of true e-commerce is a lack of employees with basic and advanced IT skills. The possibility that Information Technology (IT) skills shortages could explain the gap between the Internet’s potential and the extent of involvement by a vast majority of UK SMEs is explored. Discussion within the chapter is complemented with analysis of data from a large survey of SMEs.
Chapter
Enterprise Resource Planning (ERP) system in companies can be implemented to Multi National Corporation (MNC), Larger Enterprise, and Small & Medium-sized Enterprises (SMEs). In China, 99% of all companies can be categorized as SMEs. With a decade of high-speed economy development after entering the 21st century, traditional Chinese SMEs want to find a new management model to improve work efficiency and increase business opportunities. This study finds the factors affecting the diffusion and successful implementation of ERP in Chinese Nanjing manufacturing SMEs. It will lead to the conclusion that ERP investment and implementation, which could be used as project guideline by the management of SMEs or companies that adopt ERP in intend to implement them. The objective is to provide Nanjing’s SMEs implementing ERP with knowledge about ERP implementation factors.
Chapter
While records management in general and e-records management in particular have received serious attention in large enterprises, the same cannot be said for SMEs. This is despite the emergence of an economy where transactions are increasingly carried out electronically, and where the management of e-records emanating thereof must be meticulously managed to obviate disaster. Iron Mount Digital (2007), a leading provider of data backup/recovery and archiving software based in the UK, warns in its findings (based on industry research) that SMEs are reportedly failing to put in place disaster recovery plans in the belief that such recovery plans are the domain of larger companies. Such SMEs could face total shut down or bankruptcy unless they developed contingency plans to ensure that normal operations are resumed following a serious incident. In these plans, SMEs should include a disaster contingency team, assessing key areas of risk across the business, planning for recovery, and reviewing and communicating the plan to employees. It is important for SMEs to continuously backup crucial company information so that in the event of a disaster, the company can be safe in the knowledge that it can restore company data.
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This paper examines the role of trust in organizational response to crisis. Based on prior research and interviews with 33 top managers during a period of industry crisis, trust is conceptualized in terms of four dimensions: competence, openness, concern, and reliability. Trust at the group, organizational, and interorganizational levels is hypothesized to be positively related to decentralization of decision making, undistorted communication, and collaboration within and between organizations during crisis. Trust is also hypothesized to be positively related to organizational performance.
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This work provides a comprehensive customer-focused evaluation framework that businesses can use to assess their electronic customer relationship management (e-CRM) readiness. The framework is intended to provide a big picture of the overall composition of e-CRM, to facilitate gap analysis, and to support a monitoring and feedback process. Knowledge management, trust, and technology are identified as key enablers of e-CRM. Finally, we propose weighting and rating scales to aid in assessing customer relationship management readiness, and provide examples of their use.
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A benchmark is a standard for measuring and comparing the performance of like systems. For new product makers, a benchmark can provide important statistical information so products can be fine-tuned before their deployment. For end users, on the other hand, a benchmark can be used to compare the strengths and weaknesses of different products so that an informed decision can be made about system adoption. Benchmarks aid in estimations of scalability in terms of the number of users and/or transactions that a system can support, and system response times under various loads and hardware/software deployment platforms.This paper focuses on the design issues in developing benchmarks for e-commerce. Because of the multidisciplinary aspects of e-commerce and the various emerging and distinct e-commerce business models, creating a single benchmark for the e-commerce application is not feasible. Add to this the diverse needs of small to medium enterprises (SMEs) and big business and we motivate the need for a benchmark suite for e-commerce.It is the thesis of this paper that the business model plays the primary role in the development of a e-commerce benchmark. It is the business that determines processes and transactions and thus also the database and navigational designs. For illustrative purposes, we step through the design of an e-commerce benchmark specification, WebEC, based on a e-broker (cybermediary) Internet business model. An example implementation of the benchmark specification, based on Microsoft's COM technology, and sample benchmark results are also presented.
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The following study both synthesizes and builds on the efforts to conceptualize the effects of quality, satisfaction, and value on consumers’ behavioral intentions. Specifically, it reports an empirical assessment of a model of service encounters that simultaneously considers the direct effects of these variables on behavioral intentions. The study builds on recent advances in services marketing theory and assesses the relationships between the identified constructs across multiple service industries. Several competing theories are also considered and compared to the research model. A number of notable findings are reported including the empirical verification that service quality, service value, and satisfaction may all be directly related to behavioral intentions when all of these variables are considered collectively. The results further suggest that the indirect effects of the service quality and value constructs enhanced their impact on behavioral intentions.
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Applying recent theoretical concepts of social systems to innovation networks of firms leads to the presumption that linking firms to non-business systems stimulates innovativeness more than remaining within the business system’s set of routines. Crossing the border to science, in particular, increases the diversity of firms’ innovation partners and respective innovation stimuli which, in turn, improves the capability of firms to introduce more advanced innovations. This contention is supported by a statistical analysis using data from a research project on innovation systems in several European regions. The results demonstrate that partners from science are more important than the firms’ customers for the introduction of products which are new to the market.
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Economic geography in an era of global competition poses a paradox. In theory, location should no longer be a source of competitive advantage. Open global markets, rapid transportation, and high-speed communications should allow any company to source any thing from any place at any time. But in practice, Michael Porter demonstrates, location remains central to competition. Today's economic map of the world is characterized by what Porter calls clusters: critical masses in one place of linked industries and institutions--from suppliers to universities to government agencies--that enjoy unusual competitive success in a particular field. The most famous example are found in Silicon Valley and Hollywood, but clusters dot the world's landscape. Porter explains how clusters affect competition in three broad ways: first, by increasing the productivity of companies based in the area; second, by driving the direction and pace of innovation; and third, by stimulating the formation of new businesses within the cluster. Geographic, cultural, and institutional proximity provides companies with special access, closer relationships, better information, powerful incentives, and other advantages that are difficult to tap from a distance. The more complex, knowledge-based, and dynamic the world economy becomes, the more this is true. Competitive advantage lies increasingly in local things--knowledge, relationships, and motivation--that distant rivals cannot replicate. Porter challenges the conventional wisdom about how companies should be configured, how institutions such as universities can contribute to competitive success, and how governments can promote economic development and prosperity.
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