Researches Conducted On Entrepreneurial Awareness Of Micro And Small Enterprises PdfBy Helga N. In and pdf 13.04.2021 at 21:11 8 min read
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- Recent evidence of the development of micro, small and medium enterprises in Indonesia
- Recent evidence of the development of micro, small and medium enterprises in Indonesia
- South African Journal of Economic and Management Sciences
- Micro and Small Enterprises in Assosa Town. A Case Study of Factors Affecting Performance
This article aims to assess the impact of COVID outbreak on these businesses and provide policy recommendations to help MSMEs in reducing business losses and survive through the crisis. We adopted an exploratory methodology with comprehensively reviewing the available literature, including policy documents, research papers, and reports in the relevant field.
Recent evidence of the development of micro, small and medium enterprises in Indonesia
As each firm is embedded in a network of relations with stakeholders business partners , understanding how they evaluate entrepreneurial success is important. The initial qualitative study in the form of in-depth interviews allowed us to identify the indicators of entrepreneurial success that are identified by external stakeholders of micro-firms.
In the quantitative study on stakeholders of 57 micro-firms, we identified the dimensions of entrepreneurial success. Using a multilevel approach, we found six dimensions of entrepreneurial success at the individual stakeholder level and four dimensions at the firm level. The results show that stakeholders perceive entrepreneurial success in terms of many dimensions, not focusing solely on economic indicators.
This knowledge may inform micro-firm management and the strategies employed by practitioners supporting entrepreneurs. Success in running a company is of vital importance not only for entrepreneurs-business owners themselves but also for the society as a whole, since it leads to economic growth and job creation e. Two kinds of indicators based on which businesses are judged to be successful have been considered in past research: financial indicators of firm performance e.
Success evaluations were usually based on assessments made by entrepreneurs themselves Dijkhuizen et al. Indicators of business success as evaluated by entrepreneurs, however, may be different from those taken into account by people who judge firms from the outside, as was observed in early research Montagno et al. Still, our knowledge of what kind of indicators and dimensions of entrepreneurial success are of importance to stakeholders e.
We recognize that entrepreneurs are embedded in a larger social context, which includes relations with their stakeholders and business partners.
If stakeholders are not satisfied with the performance of a firm, they withdraw their support, which may threaten the survival of the business Ghosh et al. Moreover, there has been a longstanding call for investigating entrepreneurship from a multilevel perspective, taking into account the direct environment of businesses Low and MacMillan, We investigate what dimensions stockholders use to evaluate the entrepreneurial success of micro-enterprises.
We focus on this kind of firms for two reasons. Second, in micro-firms employing no more than 10 people there are direct relationships between entrepreneurs and their stakeholders, which allows stakeholders to observe and evaluate not only the financial performance of firms but also many other indicators of entrepreneurial success which may be unnoticeable when cooperating with bigger companies.
After explaining our conceptual framework in more detail, we present a multilevel quantitative study. This study was based on the results of the initial qualitative study using in-depth interviews, which allowed us to identify the kinds of indicators used by stakeholders when talking about the success of their business partners. Popular opinion has it and many studies show Baron and Markman, ; Crane and Sohl, ; Steffens et al.
High financial outcomes and good position on the market are named as success indicators, together with other economic indicators of entrepreneurial success and firm performance van Praag and Versloot, ; Richard et al. One of the common criteria of entrepreneurial success defined in this way is sales growth Florin et al.
However, empirical studies e. It is crucial to look for other indicators especially when the success of micro-firms is considered Davidsson, ; Greenbank, , since financial indicators of small and micro-firms do not always adequately reflect their performance Walker and Brown, ; Reijonen and Komppula, Therefore, as regards big enterprises, the economic approach can serve as the basis for defining their success on the market, but this is not the case with micro- and small firms Greenbank, Many micro-enterprises are doing well, even though their profit is not vast or increasing and even though the number of their employees does not increase.
This proves that the economic approach is insufficient to define such a complex phenomenon as the entrepreneurial success Walker and Brown, Therefore, deeper insight into the indicators of entrepreneurial success is needed, and the psychological approach may broaden our understanding of this issue.
What is stressed in the psychological approach is the need to assess entrepreneurial success using subjective evaluation criteria, applied by entrepreneurs themselves Wach et al. Previous research has shown that such subjective evaluation of success covers a wide range of indicators, including perceived attainment of valuable goals Buttner and Moore, ; Walker and Brown, , personal satisfaction Fisher et al.
An extensive analysis of the literature on management, business, entrepreneurship, and psychology done by Gorgievski et al. Apart from the traditional economic indicators, such as profitability and growth e. More subjective criteria of entrepreneurial success were also listed in this classification, such as personal satisfaction, work-life balance related to having time for family, friends, and leisure activities. Important success indicators concerned functioning in external environment: stakeholder satisfaction, public recognition and good reputation, as well as social utility e.
This shows that, beside financial profit and company growth, entrepreneurs use many other criteria when evaluating their entrepreneurial success. Assessing the quality of the functioning of their firms, they also appreciate the significance of relations with the broader environment. Former analyses and studies of entrepreneurial success using this kind of subjective rather than only economic indicators Buttner and Moore, ; Walker and Brown, ; Gorgievski et al.
The open question remains how the external environment, such as stakeholders, perceives entrepreneurial success. One of recent qualitative studies Kiviluoto, suggested that purely economic indicators e.
Therefore, there is a need for a more holistic approach when looking for a better understanding of the complexity of firm success Kiviluoto, Entrepreneurs do not act in a vacuum but constantly operate in a social environment, which they remain in mutual relations with. Their firms are embedded in relationships with many stakeholders. Stakeholders are all individuals, groups, and other organizations who have an interest in the actions of an organization and who have the ability to influence it Savage et al.
The group that we are interested in is external stakeholders. Following the strategic management theory Freeman, , which states that companies must be managed in accordance with the interests of their stakeholders, different strategies of managing relationships with external partners are discussed in the management literature e. There is agreement, however, that not only big companies but also micro-enterprises shall take it into account that if stakeholders are not satisfied with the effects of the cooperation and do not perceive the firm as a successful partner, offering stable collaboration, they may withdraw their support.
However, firms not only operate in the social milieu themselves but are also perceived by external partners. For example, early research Montagno et al.
Taking this into account, we can distinguish internal and external perception of entrepreneurial success. Despite the fact that entrepreneurial success has been a widely studied issue Davidsson, ; Buttner and Moore, ; Greenbank, ; Walker and Brown, ; Fisher et al.
Thus they left aside the important question of how entrepreneurial success is evaluated by the external social environment. Due to the commonly observed fact that the success of any business depends on close and fruitful cooperation with external partners e. The current study aims at filling this gap. Its objective is to explore what dimensions are used for the evaluation of entrepreneurial success by the broad social environment — by stakeholders of micro-firms.
A better understanding of the external evaluation of success, its indicators and dimensions, may help to identify what is appreciated by the environment. This, in turn, may help micro-entrepreneurs manage the social image of their firms. As each firm has many stakeholders e. And so, we can distinguish two levels: the individual person level, i. We shall analyze these two levels simultaneously to provide a comprehensive understanding of external evaluation of entrepreneurial success.
Due to the scarcity of research on entrepreneurial success taking into account the perspective of external stakeholders, our study is of exploratory nature.
Therefore, we do not formulate any hypothesis but only pose a research question:. Research question : What are the dimensions of entrepreneurial success evaluated by the external stakeholders of micro-firms?
The aim of this initial study was to find out what indicators of entrepreneurial success are listed by external stakeholders of micro-firms. The stakeholders who were invited to take part in an in-depth interview met two criteria: a cooperating with micro-firms as external partners b for at least a year. Nine of them had higher education and three had secondary education.
We conducted in-depth interviews. The interview consisted of two parts. Please think of one or a few companies that you know from your surroundings which, in your opinion, have achieved success. What makes a company successful? In the second part, respondents were asked to what extent, in their opinion, the categories of success indicators listed below were meaningful for entrepreneurial success. If an indicator was listed in the first part of the interview, it was not elicited again.
After consent had been obtained from the respondent, the interview was audio recorded. We took into account 11 categories of entrepreneurial success indicators, which had been extracted from earlier studies and analyses Buttner and Moore, ; Walker and Brown, ; Gorgievski et al.
Next, five competent judges assigned respective units to one of 11 categories of entrepreneurial success indicators 0 — does not belong to this category ; 1 — belongs to this category. A unit was assigned to a given category when at least three out of five judges agreed about it.
All judges had been trained on coding and performed a trial coding of units. Next, we analyzed the frequency of the entrepreneurial success indicators.
We obtained meaning units describing indicators of entrepreneurial success. In order to verify the reliability of categorization of these units, we conducted the analysis of inter-rater agreement. This analysis showed that all of the categories of entrepreneurial success were mentioned by stakeholders in the interviews.
The most frequently listed categories were image of the firm, profitability of the firm, and employees satisfaction, whereas the least frequent ones were entrepreneur work-life balance and entrepreneur satisfaction. Indicators of entrepreneurial success listed by stakeholders in this qualitative study were next used as a base for development of statements for a quantitative study described below. Data collection consisted of two stages.
First, trained researchers contacted entrepreneurs, and after obtaining their informed consent they asked each entrepreneur to provide the contact data of eight to 10 of their business partners. In the second stage, researchers contacted these business partners directly or asked entrepreneurs for help in collecting the surveys completed by their business partners. Paper-and-pencil questionnaires were collected anonymously in sealed envelopes, to ensure the confidentiality and anonymity of the data.
Each of the business partners evaluated the success of a given company, whose name was provided in the heading of the questionnaire. The entrepreneurs invited to take part in this study met conjointly five criteria: being a the founder, b the manager, and c the owner or co-owner; of a firm that d hired from one to 10 employees excluding the entrepreneur , and e had existed on the market for at least 2 years.
Business partners met two criteria: a they had collaborated with a given firm b for at least 1 month. Out of entrepreneurs invited to take part in the study, 72 declined; questionnaires from two firms were excluded due to incomplete data from business partners.
Finally, 57 micro-enterprises They operated in the service sector A total of business partners were invited to take part in the study; of them participated in it As regards their education, Most business partners They were suppliers Based on the results of the in-depth interviews conducted during the initial qualitative study, statements describing entrepreneurial success were generated.
Their linguistic correctness and comprehensibility were verified by two independent linguists and 10 employees including four women working in different enterprises, and the content of some statements was corrected accordingly.
In this way, 57 statements describing entrepreneurial success were generated.
Recent evidence of the development of micro, small and medium enterprises in Indonesia
As each firm is embedded in a network of relations with stakeholders business partners , understanding how they evaluate entrepreneurial success is important. The initial qualitative study in the form of in-depth interviews allowed us to identify the indicators of entrepreneurial success that are identified by external stakeholders of micro-firms. In the quantitative study on stakeholders of 57 micro-firms, we identified the dimensions of entrepreneurial success. Using a multilevel approach, we found six dimensions of entrepreneurial success at the individual stakeholder level and four dimensions at the firm level. The results show that stakeholders perceive entrepreneurial success in terms of many dimensions, not focusing solely on economic indicators. This knowledge may inform micro-firm management and the strategies employed by practitioners supporting entrepreneurs.
South African Journal of Economic and Management Sciences
In India, many promotional policies and educational institutions have focused on entrepreneurship education EE for the development of future entrepreneurs. Firstly, 23 interviews have been conducted to explore about EE and EA. Further data was collected from respondents through a structured questionnaire and undertaken done with the descriptive analysis: exploratory factor analysis and multiple regression method to explore the result of this study. After the analysis, it was found that EE played an important role in developing EA of the young community towards entrepreneurship. All the coefficients in the regression model are positive, which means that all the factors of EE awareness, enterprise knowledge and practical skills have a positive impact on EA affective, cognitive and behavioural.
Micro and Small Enterprises in Assosa Town. A Case Study of Factors Affecting Performance
Background of the Study 1. Statement of the Problem 1. Research Question 1. Objectives of the Study 1. Significance of the Study 1. Scope of the Study 1.
It has three research issues, namely the role of MSMEs, their constraints, and the importance of MSMEs for the creation of business opportunities for women. More specifically, the study aims to answer the following research questions. Second, what are their main constraints? Third, how important are they, especially micro and small enterprises MSEs , for the creation of business opportunities for women? Fourth, is the growth of MSEs a sign of increased entrepreneurial spirit or a reflection of poverty? This study adopted descriptive analysis using secondary data. About
Market research should never be underestimated. Many successful new businesses enjoy longevity because their owners conduct regular market research to understand their target market, identify consumer problems and pinpoint realistic competitors. Market research can be carried out at various stages of a business life cycle, from pre-launch and beyond. Primary market research is a kind of market research that can be carried out individually or as a business, with the aim of collecting unique data that can be used to improve products, services and overall functionality. Most new businesses will encounter three different types of customer; market research gives you the ability to understand how your target customers think and adapt to their needs in order to turn them into regular customers and brand advocates.
Mapping small firms' and entrepreneurship research topics: some examples business research and to raise the quality of research by employing robust ideals of how research should be conducted. conscious engagement with the literature on micro-level to macro-level analyses and it, too.
Master's Thesis, 2016
Background of the Study 1. Statement of the Problem 1. Research Question 1. Objectives of the Study 1. Significance of the Study 1.
About the Author s. The Author s. This is an Open Access article distributed under the terms of the Creative Commons Attribution License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Background: There is increasing pressure on business organisations to behave ethically, in addition to running their operations in the most economical, efficient and effective manner possible to increase performance. Customers have also become increasingly mindful of the reputation of the businesses they patronise. Small and medium-sized enterprises SMEs have become the worst affected since they lack the funds, strategic information and relevant alliances to implement ethical practices. Aim: This article aims at evaluating the aspects of business ethics, significance of business ethics to SMEs, ethical dilemmas and challenges of SMEs, particularly in developing countries, and suggests strategies to address ethical dilemmas and challenges.
Lings pointed out that there is apparently a very high rate of business failure among small to medium enterprises, hereinafter referred to as small to micro and medium enterprises SMMEs 1 in South Africa.
- Он прикусил губу. - Шифр, над которым работает ТРАНСТЕКСТ, уникален. Ни с чем подобным мы еще не сталкивались.
Сьюзан было запротестовала, но Стратмор не дал ей говорить. - Вы меня не знаете, молодой человек. Я рисковал всю свою жизнь.