Asymmetric information, business environment, and transactions costs among business owners in Nigeria: Implications for female entrepreneurial sustainability transitions

2020 ◽  
Author(s):  
Omobolaji Olubukunmi Obisesan ◽  
Olawale E. Olayide
Keyword(s):  
Asymmetric Information ◽  
Business Environment ◽  
Business Owners ◽  
Sustainability Transitions ◽  
Transactions Costs

scholarly journals SERVICE CREATION FOR RE-NORMALISING ESSENTIAL BUSINESS ENVIRONMENT: A PREVENTION BASED DIGITAL TECH APPROACH

2021 ◽  
Vol 1 ◽  
pp. 2631-2640
Author(s):  
Santosh Maurya ◽  
Tezuka Shin ◽  
Kentaro Watanabe ◽  
Hiroshi Nakagoe
Keyword(s):  
Work Environment ◽  
Digital Technology ◽  
Business Environment ◽  
Business Owners ◽  
Proof Of Concept ◽  
Business Environments ◽  
Digital Services ◽  
Service Creation ◽  
Prevention Through Design ◽  
After Effect

AbstractThis research investigates service creation in/after effect of coronavirus pandemic targeting the essential business environment. It follows prevention through design approach to facilitate business owners to maintain their business environments at low COVID contraction risks, for both customers and staff. The effectiveness of recommended prevention practices (like social distancing and hand-sanitising) is uncertain at public workplaces, simply due to inevitable workers and customers interactions. Such uncertainty, especially in cases of retail stores and hospitals, raises a need for the design of services and support systems for common/necessary public business activities to reduce the burden on people involved. This research investigates the risk-related metrics to realise such digital services, focussing on three types: congestion at the work environment, disinfection of store area/objects, and sanitisation of people and staffs involved. Based on this, a digital technology-based service COVSAFE was created and tested through a proof-of-concept implementation for a supermarket business environment. This implementation and its evaluations highlight the bottlenecks/challenges for realising this system in everyday scenarios.

scholarly journals Micro-enterprise predicament in township economic development: Evidence from Ivory Park and Tembisa

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Andrew Charman
Keyword(s):  
South African ◽  
Resource Constraints ◽  
Positive Impact ◽  
Qualitative Interviews ◽  
Business Environment ◽  
Business Owners ◽  
Provincial Government ◽  
Childhood Development ◽  
Enterprise Growth ◽  
Micro Enterprises

Background: In South Africa, the idea that the township economy needs to be ‘revitalised’ has begun to gain significant political traction. The Gauteng provincial government has responded to this challenge by setting out a strategy that promises to channel resources and create opportunities for micro-enterprises. The paper responds to development interventions such as this through interrogating the nature of the challenges facing micro-enterprises that need to be overcome in South African townships.Aim: In response to the developmental need to stimulate micro-enterprise growth in South African townships, the paper poses the question: what approaches are most likely to have a positive impact on township businesses, given current micro-enterprise dynamics?Setting: Primary research was undertaken in two neighbouring townships in Gauteng province, in Ivory Park and Tembisa.Methods: The data comprises a geospatial census of enterprise activities, a survey of select firms and qualitative interviews with business owners. The research utilised a small-area census approach to obtain data on business activities within an area of approximately 2km2 in each site. The census enumerated 2509 micro-enterprises in Ivory Park and 1722 micro-enterprises in Tembisa. Firm interviews were conducted with business owners in four sectors: grocery retail, liquor retail, hair care and early childhood development centres.Results: The business census identifies a strong similarity in the structure of the townships’ informal micro-entrepreneurship despite the considerable differences in the socio-economic status of the respective case sites. The enterprise survey highlights the resource constraints of township businesses and thinness of local markets. Interviews with entrepreneurs reveal four main pathways through which individuals enter into self-employment with the most dynamic enterprises established by inward investing entrepreneurs. Spatial considerations exert an influence on the position of enterprise sectors, whilst access to land and business infrastructure are notable constraints.Conclusion: Reflecting on the evidence, the paper concludes with making a call for a more low-geared development approach, focusing on lessening the legal, institutional and regulatory obstacles to enterprise growth as a first step. Municipalities have an important role in liberalising the spaces and places where township informal enterprises can and should be permitted to trade as well as creating a more favourable business environment. The challenges of crime and finance demand more purposeful action from the national government.

scholarly journals Innovative Strategies For Social-Economic Development Financial Strategies In The Development Country

2021 ◽  
Vol 5 (1) ◽  
pp. 44-65
Author(s):  
Chukwu Anthony Ogochukwu ◽  
Karina Kasztelnik
Keyword(s):  
Economic Development ◽  
Small Business ◽  
Small Businesses ◽  
Lived Experiences ◽  
Research Study ◽  
Business Environment ◽  
Business Owners ◽  
Medium Scale ◽  
Financial Strategies ◽  
Lending Institutions

This research paper summarizes the arguments and counterarguments within the scientific discussion on the Small and medium scale enterprises constitute the backbone of any nations economic development and had remained a major contributor in poverty alleviation, employment generation, and industrialization. The purpose of this phenomenological study was to explore the lived experiences of small and medium scale enterprise owners in the development country, regarding the raising of finances from lending institutions to ensure their business growth and sustenance. A phenomenological qualitative approach for this study as it empowers the researcher to investigate the lived experiences of participants to gain a deep understanding of the small number of participants who had raised funding from financing institutions and how to improve their experiences thereby reducing the challenges while seeking for financing. The relevance of this scientific problem discussion from the organizational life cycle theory and working capital management theory to emphasize the concept of study environment, financing institutions, knowledge, and experience of small business owners. Key findings emerged that within the business environment, there are lack of government policies to support small businesses, and financing institutions are not favorably disposed to support small and medium scale business. The wide-ranging factors discussed in this article also brought to fore additional financing strategies adopted by small businesses as alternatives to banks funding, the effect adequate funding will have their operations and the improvement required by government, financing institutions and owners of small businesses to support the growth and development of small businesses. The results of the research study may contribute to positive social change by creating awareness amongst small and medium scale business owners on the best financial strategies to fund their operations to remain profitable and sustained. The research study highlighted the need for both the government and financing institutions to support small businesses to function effectively to remain relevant, continue to generate more employment, improve the living standard of the owners of small business, and ultimately impact development country at large. Finally, this study added to the existing literature on small and medium scale enterprises financing strategies, their challenges, and their means to ameliorate the difficulties experienced by their owners when seeking for funding from lending institutions.

Spirituality and Modern Day Life: A Conceptual Model

2017 ◽  
Vol 10 (02) ◽  
Author(s):  
Adya Sharma
Keyword(s):  
Lifelong Learning ◽  
Conceptual Model ◽  
Business Environment ◽  
Business Owners ◽  
Global Business ◽  
Corporate Hierarchy

Business environment is hyper-competitive, and constantly changing. To succeed in this environment there is very pronounced need for a lifelong learning. To stay relevant and proactive, executives up and down the corporate hierarchy as well as business owners and all types of professionals are increasingly recognising the need to refine, update and expand their knowledge, perspectives, and skills. Today all top class owners and professionals have a desire to stay at the top of the game to effectively compete in the global business space

Online or Offline?

2010 ◽  
Vol 8 (3) ◽  
pp. 26-37 ◽  
Author(s):  
Susan Johnson ◽  
Arvind Ashta ◽  
Djamchid Assadi
Keyword(s):  
Developing Countries ◽  
Asymmetric Information ◽  
Web 2.0 ◽  
Peer To Peer ◽  
Transactions Costs ◽  
Web 2.0 Technologies ◽  
New Approach ◽  
Domestic Markets ◽  
The Past ◽  
Peer Lending

Over the past five years, “peer-to-peer” lending websites have become a new approach to mobilizing funds for on-lending to impoverished people in developing countries (microfinance) and domestic markets. In this paper, the authors review these developments and use the analytical lens of asymmetric information and transactions costs to explain the characteristics of the different models in operation. The authors find that “peer-to-peer” lending is more of an aspiration than a reality. Although web 2.0 technologies have offered new means of mobilizing funds, the borrowing mechanisms at work follow mainstream conventional approaches to the management of lending.

scholarly journals Putting the entrepreneur back into entrepreneurial ecosystems

2020 ◽  
Vol 26 (5) ◽  
pp. 1011-1041
Author(s):  
Andrei Alexander Lux ◽  
Flávio Romero Macau ◽  
Kerry Ann Brown
Keyword(s):  
Firm Performance ◽  
Business Environment ◽  
Business Owners ◽  
Hierarchical Regression ◽  
Personal Resources ◽  
Capital Social ◽  
Content Type ◽  
Entrepreneurial Ecosystems ◽  
Local Business Environment ◽  
Practical Implications

PurposeThis paper extends entrepreneurial ecosystems theory by testing how aspects of the local business environment affect individual entrepreneurs' ability to translate their personal resources into firm performance.Design/methodology/approachData were collected from 223 business owners across Australia. Moderation hypotheses were tested using multiple hierarchical regression and confirmed with the Preacher and Hayes (2004) bootstrapping method.FindingsThe results show that business owners' psychological capital, social capital and entrepreneurial education directly affect their individual firm performance. These positive relations are moderated by specific aspects of the business environment, such that they are stronger when the environment is more favorable.Originality/valueThis study puts individual business owners back into entrepreneurial ecosystems theory and explains how they can make the most of their personal resources, suggesting a complex interplay where one size does not fit all. Far-reaching practical implications for policymakers are discussed.

Resilience in the context of two traditional Spanish rural sectors: an exploratory study

2015 ◽  
Vol 9 (2) ◽  
pp. 182-203 ◽  
Author(s):  
Abel Duarte Alonso
Keyword(s):  
Small Business ◽  
Olive Oil ◽  
Small Businesses ◽  
Business Environment ◽  
Business Owners ◽  
Business Strategies ◽  
Small Business Owners ◽  
Online Questionnaire ◽  
Economic Implications ◽  
Content Type

Purpose – The present study examines ways in which micro and small business owners and managers in the olive oil industry seek to adapt to emerging challenges and build resilience. In an increasingly demanding business environment, the ability to become resilient and be able to adapt to new or existing challenges is crucial. However, in what ways do micro and small business owners and managers seek to adapt to emerging challenges and build resilience? The present study examines these issues among micro and small wine and olive oil producers. Design/methodology/approach – An online questionnaire was designed to gather the views of respondents on challenges, impacts of these challenges and strategies they consider to adapt to current challenges. A total of 93 winery owners/managers and 52 olive growers participated. Findings – The findings identify increasing costs, decreasing consumption and the effects of the economic crisis as the most significant barriers, with impacts in the form of loss of trust in government institutions and loss of confidence in a soon economic recovery. To adapt and become resilient, enhancing promotional, educational and diversification activities, such as starting or growing exports, or becoming more involved in technology and social media are perceived as fundamental business strategies. Originality/value – In considering elements related to the theory of resilience, the study provides empirical evidence of adaptive strategies among micro and small businesses, as well as ways to achieve resilience. Overall, the findings have important socio-economic implications for various stakeholders, including the sectors involved, government agencies, and ultimately for consumers, and local communities where businesses operate.

scholarly journals Development of Ecommerce Web Application: Pick & Buy

2021 ◽  
Vol 9 (VI) ◽  
pp. 3683-3685
Author(s):  
Mukul Singh Nathawat
Keyword(s):  
Electronic Commerce ◽  
Computer Networks ◽  
Cost Reduction ◽  
Web Application ◽  
Business Plan ◽  
Business Environment ◽  
Business Owners ◽  
Time Saving ◽  
Price Comparison ◽  
Marketing Flexibility

Electronic commerce is a process of performing business through online modes using computer networks. Now-a-days Ecommerce is seen as an important part of many businesses and business plan. It is beneficial in terms of cost reduction, fast buying, affordable advertisements and marketing, flexibility for buyers, product and price comparison and last but not the least time- saving. Using Ecommerce websites for shopping is not only easy and effortless but also less time consuming. Ecommerce is useful for feedbacks and helps the business owners to build a more efficient and secure business environment for customers.

scholarly journals A Critical Analysis of the Effects of Strategic Management on Small Scale Businesses; A case study of Patent Medicine Stores in Abuja, Nigeria

2021 ◽  
pp. 57-64
Author(s):  
Akinsola Fadeyi
Keyword(s):  
Strategic Management ◽  
Business Environment ◽  
Business Owners ◽  
Small Scale ◽  
Strategy Formulation ◽  
Chi Square ◽  
Design Data ◽  
The Impact ◽  
Patent Medicine

The impact of strategic management in businesses cannot be over-emphasised irrespective of the size or nature of the business. The strategy provides the key to success in today’s changing business environment; hence, the success of a business can be traced to a well-pronounced factor, which is strategic management. As expressed by Jauch (2015), strategy formulation is a grand plan to be followed to achieve a set objective in small-scale businesses. For improved profitability and sustainability, small-scale businesses need to manage their operations intentionally. To utilise the limited resources effectively for higher profitability, small-scale businesses need a strategy; when resources are finite, when there is uncertainty about competitive strength and behaviour, when decisions must be coordinated between far places and overtime, and when there is uncertainty about control of initiative Miller (2013). However, the study critically analysed the effect of strategic management on small-scale businesses of Patent Medicine Stores in Abuja, Nigeria, especially in the 21st century. The methodology comprises the research and questionnaire design, data collection and data analysis techniques. The researcher was able to retrieve 53 questionnaires out of 70 and test the hypothesis using the chi-square method. From the result after the research, the researcher discovered that strategic management has a great effect on small-scale businesses of patent medicine stores in Abuja, Nigeria. Conclusively, business owners and managers must formulate policies and strategies if their businesses must continue to exist, serve and sustain competition.

scholarly journals Building Key Organisational Talent Through Executive Education

2017 ◽  
Vol 9 (01) ◽  
Author(s):  
Rakesh Seth
Keyword(s):  
Lifelong Learning ◽  
Business Environment ◽  
Business Owners ◽  
Executive Education ◽  
Global Business ◽  
Corporate Hierarchy

Business environment is hyper-competitive, and constantly changing. To succeed in this environment there is very pronounced need for a lifelong learning. To stay relevant and proactive, executives up and down the corporate hierarchy as well as business owners and all types of professionals are increasingly recognising the need to refine, update and expand their knowledge, perspectives, and skills. Today all top class owners and professionals have a desire to stay at the top of the game to effectively compete in the global business space

Sign in / Sign up

Export Citation Format

Share Document