scholarly journals The Readiness of Small and Medium Enterprises for the Industrial Revolution 4.0

2019 ◽  
Vol 7 (4) ◽  
pp. 217-223 ◽  
Author(s):  
Shan Shan Teh ◽  
Daisy Mui Hung Kee
Keyword(s):  
Value Chain ◽  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
Jel Classification ◽  
Business Community ◽  
Smart Technology ◽  
New Era ◽  
Cast Doubt ◽  
Paper Review ◽  
Medium Enterprises

Objective - The Industrial Revolution 4.0 has penetrated across the industrial world. It promotes innovation in organizing and controlling the entire value chain life cycle. The Industrial Revolution 4.0 not only brings convenience, but it also acts as a new trend toward smart technology. With this smart technology, production times are shortened, productivity is doubled, efficiency is increased, and income is also improved. The Industrial Revolution 4.0 is being emphasized among Malaysian SMEs. This is because SMEs constitute 98.5% of the business community in Malaysia. However, although the Industrial Revolution 4.0 is gaining popularity, SMEs remain relatively unaware on it. This has cast doubt on the readiness of Malaysian SMEs for the Industrial Revolution. Is the readiness of industrial revolution 4.0 reach the satisfaction level among Malaysian SMEs? Therefore, the purpose of this study is to assess the level of readiness of Malaysian SMEs for the Industrial Revolution 4.0. In addition, the study will also propose strategies to improve the readiness of SMEs in Malaysia for the Industrial Revolution 4.0. Methodology/Technique – Various papers and current information was accessed to determine the readiness of Malaysia for the Industrial Revolution 4.0 and strategies that can be employed to enable SMEs to adopt the new era of industrial revolution. Findings- From the findings it was concluded that Malaysian SMEs remain unprepared for the Industrial Revolution 4.0. Novelty - This paper proposed important strategies to assist SMEs and employees to adapt to the Industrial Revolution 4.0. Type of Paper: Review Keywords: Readiness; Strategies; Small and Medium Enterprises; Industrial Revolution 4.0; Malaysia. Reference to this paper should be made as follows: Teh, S. S; Kee D.M.H. 2019. The Readiness of Small and Medium Enterprises for the Industrial Revolution 4.0, Global J. Bus. Soc. Sci. Review 7(4): 217 – 223. https://doi.org/10.35609/gjbssr.2019.7.4(2) JEL Classification: M20, M13, M19.

A Systematic Review on Leadership Styles in Small and Medium-Sized Enterprises

2021 ◽  
Vol 6 (3) ◽  
pp. 158-166
Author(s):  
Sharon Esther Anak Donny Sita ◽  
Nor Ashikin Mohd Nor
Keyword(s):  
Systematic Review ◽  
Leadership Styles ◽  
Leadership Style ◽  
Small And Medium Enterprises ◽  
Jel Classification ◽  
Inclusion Criteria ◽  
Paper Review ◽  
Meta Analyses ◽  
Medium Enterprises ◽  
The Relationship

Objective - The purpose of this paper is to conduct a systematic review of the leadership style practiced by leaders in small and medium-sized enterprises. Methodology/Technique - Following the protocol guidance known as the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) flowchart, a total of six articles were reviewed and analysed after meeting inclusion criteria and being deemed relevant to the goals of this paper. Findings - The results of the study suggested that the leadership styles of leaders in the context of small and medium enterprises are based on the following elements: 1) the background of an organization; 2) the characteristics of the leader; 3) the relationship between leader and followers; and 4) the position of the followers. Novelty - This paper contributes to the knowledge on leadership style in general, specifically in the context of small and medium-sized enterprises. Type of Paper - Review. Keywords: Leader; leadership style; PRISMA; small and medium-sized enterprises; systematic literature review. JEL Classification: L20, L29.

AFRICA’S RENAISSANCE AND POTENTIAL IN THE LEATHER SECTOR WITH REFLECTION TO THE GLOBAL PERFORMANCE

2015 ◽  
Vol 2 (1) ◽  
pp. 1-17 ◽  
Author(s):  
Mwinyihija M.
Keyword(s):  
Value Chain ◽  
Small And Medium Enterprises ◽  
Middle Level ◽  
Individual Member ◽  
Socioeconomic Indicators ◽  
Value Add ◽  
Medium Enterprises ◽  
The Impact ◽  
Productivity And Competitiveness ◽  
Critical Aspects

Africa’s renaissance is inevitable and rapidly emerging as a reality in tandem with the continent’s continued exploration of its natural resources in a more sustained way than previously done. Currently, the clarion call is to value add, avoid plundering and involve its population through the SME’s to adapt modern methods of entrepreneurship. During the study, critical aspects that are envisaged to trigger the growth and development of Africa, included the entry of major countries of the continent into the global emerging markets such as MINT (Mexico, Indonesia, Nigeria and Turkey) and BRICS (Brazil, Russia, India, China and South Africa). For the leather sector, certain socioeconomic indicators such as the youthful participation in the value chain, ownership status, literacy levels and acquired experiences are all contributing to a vibrant sector. It was observed that these indicators if well aligned with individual member states of African Union Commission and structured than productivity and competitiveness of leather products will be attained. As such, ease of either foreign direct investment, local recapitalization and development of the SME’s could become feasible. Indeed, with the emergence of over 300 million youth at middle level income level is construed to start building on the impact of the continents purchasing power. Therefore, Africa needs to respond by address on development of ICT, develop affordable financial support to provide stimulus packages to SME’s (Small and Medium Enterprises) to transform, improve on inter and intra trade to optimize on unexplored synergies and enhance mobility of persons with in Africa as preamble to Africa’s renaissance.

Incidence of Stakeholders in the corporate social responsibility of micro, small and medium-sized enterprises of Santa Marta

2018 ◽  
Vol 34 (62) ◽  
pp. 3-19
Author(s):  
Guillen León ◽  
Sergio Afcha
Keyword(s):  
Factor Analysis ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Value Chain ◽  
Training Programs ◽  
Small And Medium Enterprises ◽  
Corporate Management ◽  
Medium Enterprises ◽  
Corporate Social ◽  
The City

This article analyses the perception and application of corporate social responsibility (CSR) practices in a sample of 499 micro, small and medium enterprises (MSMEs) in the city of Santa Marta (Colombia) following the theory of Stakeholders. Specifically, the interdependence technique of exploratory factor analysis was used to determine the most influential Stakeholders in the execution of CSR practices. It was found that Stakeholders related to the value chain, the environment and corporate management favour social responsibility actions in local MSMEs. In contrast, community and government have less influence on the development of social responsibility practices in MSMEs. Additionally, it was found that the size of the business acts as an important moderator of the development of the CSR. Given that there is a distinctive influence of Stakeholders in the development of responsible practices in the MSMEs of Santa Marta, it is suggested that comprehensive training programs on social responsibility be promoted in smaller companies.

scholarly journals SMEs Must Go Online—E-Commerce as an Escape Hatch for Resilience and Survivability

2021 ◽  
Vol 16 (7) ◽  
pp. 3043-3062
Author(s):  
Joana Costa ◽  
Rafael Castro
Keyword(s):  
Small And Medium Enterprises ◽  
Policy Makers ◽  
New Era ◽  
Daily Routines ◽  
Business Ecosystem ◽  
Modern Age ◽  
Recent Emergence ◽  
Strategic Options ◽  
Medium Enterprises ◽  
The Ideal

The recent emergence of e-commerce has brought a shifting paradigm into global markets. This revolutionary framework relying upon technological progress has conveyed a new era of commerce. More than ever, businesses are using digital marketplaces to stay relevant and competitive. Suddenly, buying online has become part of their daily routines. Accessibility, flexibility, and convenience make the internet the ideal platform for modern age consumers. Small and medium enterprises predominate in almost every industry generating employment, income, and sustainability. Nonetheless, e-commerce adoption among these organizations is yet to be widely undertaken. This article has a twofold objective: first, it gathers data regarding the emergence of e-commerce adoption by SMEs through a systematic literature review encompassing 32 indexed articles (published between 2003 and 2021). Secondly, it provides a quantitative and qualitative analysis identifying strategic options and guidelines for a smooth digital transition among these players. Lastly, some recommendations to policy makers were clipped to work as facilitators, given SMEs specificities. The future is digital and the struggle for e-commerce adoption and exploitation among these organizations is at the top of the agenda. It is central in maintaining the vibrancy of the business ecosystem, and is therefore a turnkey for economic recovery.

scholarly journals Connecting Inward and Outward Internationalisation of Malaysian SMEs: A Learning Approach

2018 ◽  
pp. 264-275
Keyword(s):  
Knowledge Sharing ◽  
Value Chain ◽  
Explicit Knowledge ◽  
Small And Medium Enterprises ◽  
Structured Interviews ◽  
Supplier Relationships ◽  
Study Approach ◽  
Medium Enterprises ◽  
The Relationship

When SMEs are part of global value chain, the flows of information in cross-border buyer-supplier relationships which emerge from inward-outward internationalisation connections should be addressed. This study therefore investigates the learning processes of internationalising small and medium enterprises that engage in inward and outward internationalisation. Hence, this study adopts a qualitative case study approach based on ten cases of the internationalising SMEs in Malaysia. Semi-structured interviews with the Managing Directors of the selected SMEs were conducted over a two-year period. Additionally, participant observations were conducted by attending the meetings related to import-export activities and documentations were gathered for data triangulation Findings of this study highlights that the relationship with key foreign suppliers empowered case firms to connect inward to outward internationalisation through collaborative knowledge sharing. The distribution of knowledge through tacit-tacit and tacit-explicit knowledge sharing underpinned by formal planning was a prerequisite for inward-outward internationalisation connections to be established.

scholarly journals Strategi Pengembangan Usaha Kecil Menengah (UKM) Kreatif Pedesaan di Kabupaten Sleman studi Kasus Subsektor Industri Kerajinan Anyaman Mendong

2018 ◽  
Author(s):  
Kristiana Sri Utami ◽  
Nany Noor Kurniyati
Keyword(s):  
Value Chain ◽  
Rural Areas ◽  
Local Community ◽  
Swot Analysis ◽  
Small And Medium Enterprises ◽  
Creative Industries ◽  
Culture Heritage ◽  
Design Production ◽  
Medium Enterprises

Creative industries including its subsector handicraft, is very potential to be developed, because Indonesia is rich in culture heritage. Creative industries is largely related to a group of micro , small and medium enterprises which are mostly located in rural areas . Industry has entered the era of globalization which is rapidly developed, so that the role of UKM (small&medium enterprises) in handicraft as a part of the creative industries to achieve welfare society should be developed. The appropriate strategic planning will spur the development of this industry. Mendong craft is one of the creative industry subsector that exists in Sleman. Methods of analysis is using value chain and SWOT analysis. From the data, it is found that mendong craft is a cultured asset that deserve to be developed. Mendong, as the material for the weaved craft is an abundant local natural asset, but a lack of interest from the local community to develop this industry brings less quantity of product that is produced. This craft is still less touched so that it has limitation in creation/ design, production,commerlialization, and distribution. The reality is that the entrepreneurs are afraid to enter the global marked caused by anxiousness about the inability to fulfill demanded quantity.

scholarly journals Pemanfaatan Pelepah Pisang Menjadi Produk Inovatif sebagai Upaya Peningkatan Pendapatan Ekonomi Keluarga di Desa Jamberejo Kecamatan Kedungadem Kabupaten Bojonegoro

2019 ◽  
Vol 3 (1) ◽  
pp. 21-31
Author(s):  
Nur Laila Rahmawati ◽  
Indah Fajrotuz Zahro ◽  
Asnawi ◽  
Nurul Fitriandari ◽  
Eryul Mufidah
Keyword(s):  
Higher Education ◽  
Small And Medium Enterprises ◽  
Economic Value ◽  
Business Community ◽  
Participatory Action ◽  
Economic Competition ◽  
Social Community ◽  
The Social ◽  
Asean Countries ◽  
Medium Enterprises

The economic challenge in the era of ASEAN Economic Community (MEA) is economic competition in the ASEAN countries. Consequently, efforts to improve Small and Medium Enterprises (SMEs) must be sustainable and should be done by synergizing among the social community, higher education, and the business community. To implement it, Jamberejo village of Kedungadem Sub-district, Bojonegoro developed assets that the social community has, that is banana bark which was able to be used as crafts that have economic value. By using Participatory Action Research (PAR) method, 57 women and higher education were invited to make crafts from banana bark to be used as a home industry business. Based on 6 samples of product, the business got a profit of Rp. 2,100,000. Return of Investment (ROI) is about 2.2 months. Then the average income level of the Jamberejo people has increased by 42.9% or equivalent to Rp. 900,000 per month. It happened after they got a mentoring program for the innovation of banana bark

Tourism Policy for Encouraging the Development of SMEs in Belitong, Indonesia

2018 ◽  
Vol 3 (1) ◽  
pp. 16-23
Author(s):  
Wahyuddin Latunreng ◽  
Daryanto Hesti Wibowo
Keyword(s):  
Mixed Method ◽  
Small And Medium Enterprises ◽  
Sustainable Tourism ◽  
Jel Classification ◽  
Public Communication ◽  
Tourism Policy ◽  
Medium Enterprises ◽  
Tourism Economy ◽  
Method Analysis

Objective - This study discusses the role of tourism policy in the development of small and medium enterprises (SMEs) in the province of Belitong, Indonesia. Methodology/Technique - This research applies mixed method analysis through the use of likert-scale questionnaires and interviews. The respondents completing the survey are from SME proprietors. Following the questionnaire, an interview with the Regent was delivered to confirm the findings. Findings – The research shows that people working in SMEs agree that tourism policy encourages the development of SMEs. However, it is shown that tourism policies need to be more inclusive, particularly with respect to shifting such policies from a mining (extractive) economy into a tourism economy. Novelty - This study resiliently makes suggestions for the improvement of public communication; some people fail to comprehend tourism policies which may lead to the ineffectiveness of the programs. Type of Paper - Empirical Keywords: Effective; Efficient; Policy; SMEs; Sustainable; Tourism JEL Classification: L20, L25, L29.

ICT Mediated Value Chain for Managing Weavers’ Livelihoods

2013 ◽  
pp. 526-562
Author(s):  
Harekrishna Misra
Keyword(s):  
Market Orientation ◽  
Information And Communication Technologies ◽  
Value Chain ◽  
Small And Medium Enterprises ◽  
Communication Technologies ◽  
Essential Information ◽  
Information And Communication ◽  
Medium Enterprises ◽  
Returns On Investment ◽  
Manage Innovation

Value chain practices focus on market orientation of products and services. Products and services highly rely on processes included in the supply chain in order to contribute to the value chain. Globalization, competition, and high cost of production influence the value chain imperatives. Thus, organizations involved in the value chain are challenged with creation of innovative designs and establishing lean production scenarios. This challenge is more serious in the cases of Small and Medium Enterprises (SMEs). The rugs industry in India is one example of such market behavior, and various SMEs are involved in this sector. Besides, the sector demands market orientation and customer retention for which continuous innovative practices are essential. Information and Communication Technologies (ICTs) have played a crucial role in supporting these SMEs in India in rolling out innovative designs through customer engagements in the entire production life cycle. There are also efforts to use ICT as a tool to innovate processes, products, and services to harness better returns on investment and to sustain business. In this case, Jaipur Rugs Company (JRC) strives to manage innovation cycles to ensure development oriented value chain for the weavers and ICT applications have been intrinsic to realize these efforts.

Open Innovation Strategies in SMEs

2013 ◽  
pp. 281-293 ◽  
Author(s):  
Hakikur Rahman ◽  
Isabel Ramos
Keyword(s):  
Business Model ◽  
Value Chain ◽  
Open Innovation ◽  
Small And Medium Enterprises ◽  
Economic Gain ◽  
Innovation Strategies ◽  
Medium Enterprises ◽  
Financial Base ◽  
Partnership Approach ◽  
Corporate Business

Open innovation in entrepreneurships already finds its acceptance at all levels of the business industry for adding value to the business. The value could be in the form of economic gain or enhancement of knowledge leading to a sustained financial base. Open innovation adopts various strategies to accomplish the task for enhancing the value gain. Varying by size, nature, pattern, or characteristics of the firm various strategies are being adopted by enterprises. Though largely known to be familiar in corporate business houses, in recent years open innovation is also becoming increasingly familiar in small and medium enterprises (SMEs) and the trend is rapidly increasing. However, despite the potency of open innovation strategies, most of the enterprises are yet to find a sustained business model, especially for the SMEs working at the periphery of that value chain. This forms the basis of the current study. This chapter is trying to formulate a business model incorporating partnership approach from academia, research houses, intermediaries, and other stakeholders.

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