scholarly journals ENTREPRENEURIAL MONEY MANAGEMENT PRACTICES AND COMPETITIVE OUTCOMES OF SMALL AND MEDIUM ENTERPRISES

2021 ◽  
Vol 3 (2) ◽  
pp. 71-83
Author(s):  
Fred Gichana Atandi
Keyword(s):  
Management Practices ◽  
Small And Medium Enterprises ◽  
Money Management ◽  
Product Portfolio ◽  
Cross Sectional ◽  
Study Results ◽  
Competitive Outcomes ◽  
The Government ◽  
Medium Enterprises ◽  
Large Enterprises

This study aimed at determining the effect of entrepreneurial money management practices on competitive outcomes of small and medium enterprises. The specific objectives of the study were to; assess the entrepreneurial money management practices of small and medium enterprises, determine the competitive outcomes of small and medium enterprises and to determine the relationship between entrepreneurial money management practices and competitive outcomes of small and medium enterprises. The study used both descriptive, cross-sectional and correlation research designs. The target population was 324 SMEs trading in Trans Nzoia county out of which 179 were sampled to participate in this study. The sampling method used was stratified and simple random sampling. The research instruments reliability test had a Cronbach alpha value of 0.825 which was above the threshold. The study findings indicated that entrepreneurial money management practices among SMEs was moderately embraced affecting their competitive outcomes. The study results also indicated that competitive outcomes of SMEs were dismal affecting their graduation into large enterprises. It was also found that there existed a positive significant relationship between entrepreneurial money management practices and competitive outcomes of SMEs. The study concluded that for SMEs to realize their competitive outcomes of increasing their respective product portfolio and increased revenue, it’s imperative that they apply entrepreneurial money management practices of prioritized financing, budgeting and adequate working capital to graduate SMEs to large enterprises. The study recommended that SMEs to allocate the realized financial resource prudently to exploit opportunities available to them to remain competitive. The study also recommended that SMEs should prioritize on innovations to differentiate themselves in the overcrowded market by expanding their bundle of product portfolio and also the government to formulate workable SME policies which impart entrepreneurial money management practices to improve SME performance. Keywords: Entrepreneurial, Money Management Practices, Competitive Outcomes, Small  and Medium Enterprises.

Implementing strategic responses in the COVID-19 market crisis: a study of small and medium enterprises (SMEs) in India

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Guydeuk Yeon ◽  
Paul C. Hong ◽  
Elangovan N. ◽  
Divakar G. M.
Keyword(s):  
Emerging Economies ◽  
Management Practices ◽  
Small And Medium Enterprises ◽  
Performance Outcomes ◽  
Future Research ◽  
Strategic Responses ◽  
Content Type ◽  
Study Results ◽  
Medium Enterprises

Purpose The COVID-19 pandemic presents unprecedented challenges for small and medium enterprises (SMEs) in emerging economies. This paper aims to examine how India's SMEs implement their strategic responses in this crisis. Design/methodology/approach The study uses dynamic capability theory to explore the strategic responses of SMEs. Strategy implementation theory helps to explain how they implement innovative practices for outcomes. A research model defines the COVID-19 challenges, strategic responses and performance outcomes. The study reports the findings of an initial pilot study of 75 firms and follow-up case study results in the context of COVID-19. Findings Firms choose their approaches according to their perceived market risks. Case studies illustrate that firms display diverse attitudes depending on their strategic direction, leadership vision and organizational culture. They achieve different outcomes by implementing specific styles of risk management practices (e.g. risk-averting, risk-taking and risk-thriving). Research limitations/implications Although the study context is Indian SMEs, the findings suggest meaningful lessons for other emerging economies in similar crisis events. The propositions may be extended to future research in broad contexts. Practical implications Even in the extraordinary COVID-19 market crisis, SMEs with limited resources display their strategic potential by recognizing their unique capabilities, translating them into effective actions and achieving desirable outcomes. Social implications In the COVID-19 pandemic, top leaders' mental attitude, strategic perspective and routine practices are contagious. Positive leadership motivates both internal and external stakeholders with an enormous level of collaboration. Originality/value This rare study of Indian SMEs provides a theoretical framework for designing a pilot survey and conducting a case study of multiple firms. Based on these findings, testable propositions are articulated for future research in diverse organizational and national contexts.

scholarly journals INFLUENCE OF ENTREPRENURIAL WORKING ENVIRONMENT ON EMPLOYEE PRODUCTIVITY AMONG SMALL AND MEDIUM ENTERPRISES

2021 ◽  
Vol 3 (2) ◽  
pp. 97-106
Author(s):  
Fred Gichana Atandi
Keyword(s):  
Small And Medium Enterprises ◽  
Working Environment ◽  
County Government ◽  
Employee Productivity ◽  
Cross Sectional ◽  
Business Environments ◽  
Working Environments ◽  
Study Results ◽  
World Class ◽  
Medium Enterprises

The purpose of the study was to determine the influence of entrepreneurial   working environment on employee productivity among small and medium enterprises in Kitale town, Kenya. The specific objectives of the study were to; examine    entrepreneurial working environment, establish employee productivity   and to find out the relationship between entrepreneurial working environment and employee productivity among small and medium enterprises in Kitale town. The study used  both descriptive, cross-sectional and correlation research designs. A total of 14 SME  hotels  with  a total of 92 regular employees were sampled   to participate in the study. The sampling method used was census since the population was small. The research instruments reliability test  had a cronbatch’s alpha value of  0.884 which was above the threshold. The results indicated that SMEs hotels have not embraced entrepreneurial working environments in their work places which will allow employees to be motivated to exploit their potential and improve on productivity. The study results also showed that employee productivity is low implying that they may not be achieving their set targets which affects performance of  SMEs hotels. The study results also revealed that there was a significant relationship between entrepreneurial working environment and employee productivity. The study recommendations were;the SMEs hotels are facing stiff competition from world class hotels, to remain relevant  and in productive operations, they should embrace creation of entrepreneurial environment where their employees will feel motivated  and valued. The SMEs hotels  should consider recruiting entrepreneurial human resources who will easily utilize their unique skills and talents to benefit the enterprises they work with and the  county government of Trans Nzoia  and national government should draft a policy to provide incentives to  SMEs hotels while operating in  uncertain business environments.. Keywords: Entrepreneurial Environment, Productivity, Small and Medium Enterprises, Employee, Hotel

scholarly journals Impact of working capital management on the profitability of smes through cash operation cycles in Kumasi

2020 ◽  
Author(s):  
Genesis Gyasi Sah
Keyword(s):  
Management Practices ◽  
Business Processes ◽  
Small And Medium Enterprises ◽  
Capital Management ◽  
Working Capital ◽  
Working Capital Management ◽  
Managerial Skills ◽  
Key Factor ◽  
The Government ◽  
Medium Enterprises

A business ought to be able to breed an adequate amount of cash and cash equivalent to meet its short-term liabilities if it is to carry on and develop in business. For that reason, working capital management which helps an entity to, efficiently and effectively manage current assets and liabilities is a key factor in the company’s long-term success; without working capital, the non- current assets will not function. The better the degree to which current assets exceed current liability, the more solvent or liquid a company is likely to be. This paper observes the relationship between working capital management practices of small and medium enterprises (SMEs) and the performance and profitability of these businesses in the Kumasi Metropolis distinctively Asafo, to evaluate key ratios of industries of such working capital management policies in ensuring that current assets meets current liabilities, to assess the degree to which management of SMEs are dedicated to the effective and efficient management of working capital. The implication of the findings is that the government of Ghana should pursue policies aimed at encouraging training and improving the managerial skills of SME owner/managers as well as creating the enabling environment for the development of improved modern technologies to transform the business processes of these vital industries.

scholarly journals MELAWAN BUDAYA KEMISKINAN: STRATEGI IMPLEMENTASI PERDA PENANGANAN GEPENG DI DAERAH ISTIMEWA YOGYAKARTA

2019 ◽  
Vol 7 (1) ◽  
Author(s):  
Bayu Mitra A. Kusuma ◽  
Theresia Octastefani
Keyword(s):  
Local Governments ◽  
Implementation Strategy ◽  
Swot Analysis ◽  
Small And Medium Enterprises ◽  
Absolute Poverty ◽  
Local Regulation ◽  
Study Results ◽  
Pros And Cons ◽  
The Government ◽  
Medium Enterprises

AbstractIn the decentralization era, local governments are given more space to create a policy based on their people aspirations. Among others is the policy on poverty alleviation. Poverty which happens is not only absolute poverty but also cultural poverty and it is occurs in various regions in Indonesia. To fight the culture of poverty, the Government of Yogyakarta Special Region (DIY) published a Local Regulation No. 1 of 2014 about the Homeless and Beggars Handling. Overall this regulation contains about the homeless and beggars handling approach such as preventive, coercive, rehabilitative, repressive, and social re-integration. To examine this issue, the authors use SWOT analysis. The study results showed that the implementation strategy that can be done by the local government of DIY are conduct direct raids and coaching, optimizing ‘Desaku Menanti’ Program, reduce overlapping authority, providing labor-intensive jobs, synergy with the community and private sector in empowering sprawl in the activities of small and medium enterprises, enforcement of the rules in a way that is persuasive and humane, and provide an official aid channel for the donors. Although there are pros and cons in the implementation, this regulation basically has a noble purpose to make DIY free from homeless and beggars. Keywords: poverty culture, implementation strategy, local regulation of DIY, homeless and beggars

scholarly journals Assessing Implementation of Managerial Accounting Practices: Perspective of Pakistani SMEs

2019 ◽  
Vol 9 (1) ◽  
pp. 119-132
Author(s):  
Iffat Zehra ◽  
Farhan Ahmed
Keyword(s):  
Decision Making ◽  
Management Practices ◽  
Cost Management ◽  
Small And Medium Enterprises ◽  
Descriptive Analysis ◽  
Cross Sectional Study ◽  
Managerial Accounting ◽  
Cross Sectional ◽  
Product Costing ◽  
Medium Enterprises

With increasing production cost and growing local and international competition, accountants within Small and Medium Enterprises (SMEs) are largely encumbered with the onus of cost control. Through this paper, we empirically examine use and perceived importance of cost management accounting practices within Pakistani manufacturing SMEs. The cross-sectional study is conducted under descriptive research design. Findings from survey questionnaire of 44 manufacturing SMEs indicate that process costing method is widely used and complexity in production process is main difficulty faced by SMEs in product costing. Descriptive analysis indicates that SMEs mainly use product costing information to make pricing decisions of products, profitability calculation and in decision making for new products. SMEs prefer to employ conventional tools like planning and control, budgeting and strategic planning for decision making purposes. Limited sample size under descriptive analysis restricts applicability and generalizability. Our study makes novel contribution in the domain of cost management practices in SMEs since majority of literature is available on cost management practices adopted by only large corporates within Pakistan.

scholarly journals ROLE OF ENTREPRENEUR’S COMPETENCE ON GROWTH OF SMALL AND MEDIUM ENTERPRISES

2021 ◽  
Vol 3 (2) ◽  
pp. 84-96
Author(s):  
Fred Gichana Atandi
Keyword(s):  
Small And Medium Enterprises ◽  
Resource Mobilization ◽  
Economic Life ◽  
P Value ◽  
Market Place ◽  
Entrepreneurship Policy ◽  
Cross Sectional ◽  
Study Results ◽  
Medium Enterprises

The study endeavored to determine the role of entrepreneur’s competence on growth of small and medium enterprises. The specific objectives of the study were to; establish entrepreneur’s competence small and medium enterprises in Bungoma County, examine the growth of small and medium enterprises in Bungoma county and to determine the relationship between entrepreneur’s competence and growth of small and medium enterprises. The study used a combination of descriptive, cross-sectional and correlation research designs and data was gathered using a self-administered questionnaire on 201 SMEs. Data was analyzed using descriptive and inferential statistics. The resource-based theory was used to guide this research. The study findings indicated that the grand mean for entrepreneur’s competence was low with a mean of 2.23 with a SD of 0.50. The implications of the findings is that SMEs operators in Bungoma county lack the prerequisite entrepreneurial skills and knowledge  affecting their growth save for resource mobilization. It was also found that the grand mean for growth of SMEs was low with a mean of 1.96 and SD of 0.58. The implication of the findings was that SMEs  were performing dismally  affecting their graduation/transition  to the next higher level. The study results also found that there was a significant relationship between entrepreneur’s competence and growth of SMEs with p. value 0.000. The study concluded that SMEs should embrace relevant competence skills to enable them operated growth oriented enterprises which can graduate to higher levels thereby contributing to improved social and economic life of the operators and the nation at large. The study recommended that owner managers of SMEs to attend trainings on resource mobilization and innovation so as to acquire adequate resource mobilization and innovation skills and differentiate themselves in the market place to grow their enterprises. The study further recommended that government to put in place entrepreneurship policy to nurture business startups through mentorship, motivation and attitude change as they walk through entrepreneurship journey. Keywords: Entrepreneur’s Competence, Growth, Small and Medium Enterprises

Energy Management and Auditing in Indian MSMEs

2018 ◽  
pp. 152-178
Author(s):  
Shounak Basak ◽  
Kushal Saha ◽  
Sudhanshu Shekhar
Keyword(s):  
Case Studies ◽  
Energy Management ◽  
Glass Industry ◽  
Management Practices ◽  
Small And Medium Enterprises ◽  
Ceramic Tiles ◽  
Indian Economy ◽  
The Government ◽  
Medium Enterprises ◽  
Comprehensive Framework

Energy management has emerged as a comprehensive framework for implementing sustainable accounting initiatives. This chapter elaborates and explains the energy management and auditing practices in the context of Indian micro, small, and medium enterprises (MSMEs). MSMEs form a neglected but a large part of the Indian economy. The chapter delves upon the importance of implementing energy management in MSMEs. Moreover, MSMEs are generally inefficient in their energy usage due to lack of technological upgradation. Therefore, energy management initiatives are of greater relevance for this sector. Energy management requires the coordination among a network of organizations including the focal organization, the government bodies, NGOs, and trained energy consultants. For energy management practices to take root, a business ecosystem perspective is required. The chapter highlights the theoretical dimensions of energy management and emerging ecosystem of energy management through case studies of the Firozabad glass industry and the Morbi ceramic tiles industry.

Pengaturan Waralaba Di Indonesia: Perspektif Hukum Bisnis

Liquidity ◽  
2018 ◽  
Vol 1 (2) ◽  
pp. 159-166
Author(s):  
Muchtar Riva’i
Keyword(s):  
Government Regulation ◽  
Small And Medium Enterprises ◽  
Economic Community ◽  
The Law ◽  
The Government ◽  
Medium Enterprises ◽  
Article 5 ◽  
Laws And Regulations

The law arrangement of franchise law was first explicitly regulated by the Government Regulation No. 16 of 1997 which is then updated by Government Regulation No. 42 of 2007 to be created in an agreement that at least contains clauses as stipulated by Article 5 of the Government Regulation. However, franchise arrangements also associated with a variety of other laws and regulations applicable in Indonesia. This article is going to state that the importance of partnerships with small and medium enterprises as an effort to encourage the involvement of the wider economic community.

scholarly journals Analysing spatial interdependence among the 2011 Thailand flood-affected small and medium enterprises for reduction of disaster recovery time period

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Shubham Pathak ◽  
Jorge Chica Olmo
Keyword(s):  
Disaster Recovery ◽  
Small And Medium Enterprises ◽  
Spatial Econometric ◽  
Middle Income ◽  
Management Planning ◽  
Accurate Perception ◽  
The Government ◽  
Medium Enterprises ◽  
Disaster Management Planning ◽  
The Impact

AbstractNatural disasters have been a significant hurdle in the economic growth of middle-income developing countries. Thailand has also been suffering from recurring flood disasters and was most which are severely affected during the 2011 floods. This paper aims to identify the various factors that impact the speed of disaster recovery among the Small and Medium Enterprises (SMEs) severely affected by the floods in Pathumthani province in central Thailand, and how it is related to its speed decision of neighbours SMEs. The methodology adopts a spatial econometric model, to analysis and understand each of the chosen factors’ impact. The findings include the impact of disaster resilience, mitigation and planning at the SME level as well as the government level. The absence of accurate perception of actual risk, flood insurance and disaster management planning before the 2011 floods had contributed to the severity of the impacts during the 2011 floods.

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