scholarly journals Do Performance Goals and Development, Feedback and Recognition, and a Climate of Trust Improve Employee Engagement in Small Businesses in the United States?

2021 ◽  
Vol 14 (6) ◽  
pp. 1
Author(s):  
Tywanda D. Tate ◽  
Franklin M. Lartey ◽  
Phillip M. Randall
Keyword(s):  
United States ◽  
Small Business ◽  
Regression Model ◽  
Performance Management ◽  
Employee Engagement ◽  
Small Businesses ◽  
Pearson Correlation ◽  
The United States ◽  
Performance Goals ◽  
Overall Performance

Small businesses are the predominant contributors to the U.S. economy, yet they face many challenges to remain competitive and sustainable. There are several reasons a small business could fail, including a lack of human resources, limited financial resources, competition, technological advancements, disaster, and globalization. Improving employee performance by getting them engaged and productive in their work is an issue that cannot be overlooked for small businesses to function and remain competitive. There is limited empirical evidence that explains the dimensions of performance management and employee engagement in small businesses. However, how small businesses sustain their long-term performance remains uncertain. This study sought to bring together two previously distinct constructs: overall employee engagement and overall performance management, characterized by performance goals and development, a climate of trust, and feedback and recognition. The research was correlational in nature. A survey was conducted to generate and analyze data gathered from 121 employees of small businesses located in the United States. A series of Pearson correlation analyses confirmed the existence of statistically significant positive relationships between employee engagement and each variable of performance management, namely performance goals and development, feedback and recognition, and climate of trust. Notwithstanding these positive correlations, a multiple regression model with the three performance management variables as independent variables and employee engagement as the dependent variable suggested that there was a statistically significant regression model F(3, 117) = 32.34, p < .001, R2 = .453, explaining 45.3% of the variability in employee engagement. Nonetheless, this model confirmed that the variables performance goals and development and climate of trust were not statistically significant in the model (p > .05). In other words, only the feedback and recognition variable was statistically significant in the regression model, suggesting that it explained most of the variability in engagement, including that already explained by the other two variables. Overall, the outcome of this study suggests that small businesses implementing performance management processes have more engaged employees. The conclusions drawn from these findings suggest that overall performance management and overall employee engagement contribute to small business productivity and organizational success.

Accounting and Marketing—Key Small Business Problems

1983 ◽  
Vol 7 (4) ◽  
pp. 19-26 ◽  
Author(s):  
Henry Wichmann
Keyword(s):  
United States ◽  
Small Business ◽  
Small Businesses ◽  
Small Firms ◽  
The United States ◽  
Business Administration ◽  
Small Business Administration ◽  
Business Failure ◽  
Business Managers

The Small Business Administration (SBA) estimates that small businesses represent 97 percent of all businesses in the United States [5, p. 1]. The SBA defines a small business as “one that is not dominate in its field.” While the ma and pa shops fall within this definition, much larger firms are considered small under SBA criteria. The owner-managers of these small firms face unique problems—success or failure is keyed to solving these problems. Each year in the United States, some 500,000 new businesses start and 400,000 businesses discontinue operations [1, p. 47]. These discontinuances are not all due to business failure (a bankrupt firm). Some small firms are merged with larger companies, while the spark of life leaves other small firms because the owner retires without a son or daughter to take over the reins of leadership. The purpose of this article is to aid small business managers by (1) reviewing the process of beginning a business, (2) identifying some of the attributes that characterize a successful or unsuccessful small business, and (3) discussing small firms’ problems common to the frontier states of Alaska and Wyoming.

scholarly journals Small Business Entrepreneurships In The United States

2011 ◽  
Vol 27 (6) ◽  
pp. 117 ◽  
Author(s):  
RamMohan R. Yallapragada ◽  
Mohammad Bhuiyan
Keyword(s):  
United States ◽  
Small Business ◽  
Customer Service ◽  
Small Businesses ◽  
The United States ◽  
Small Business Administration ◽  
Efficient Operation ◽  
Access To Credit ◽  
Service Information ◽  
Qualified Personnel

A small business entrepreneur is defined as an individual who establishes and manages a business for the principal purpose of profit and growth. Small businesses constitute an increasingly large proportion of businesses generally in the United States economy. They account for 39 per cent of the United States gross national product and create two out of every three new jobs in our economy. Seven important prerequisites are identified as being necessary for successfully operating a small business. These include adequate financing, qualified personnel, efficient operation and production, marketing and sales, customer service, information management and administration. One of the most significant contributors to failure of a small business relates to acquisition of adequate capital. Small Business Administration (SBA) was established by Federal Government in 1953 to provide low interest loans to small business borrowers that would not otherwise have access to credit. However, there is some criticism that these SBA programs unfairly benefit, not the small businesses, but the financial institutions that participate in the SBA loan programs. Another significant source of debt financing to small businesses is known as micro-financing, started as new wave in providing capital to small businesses by the Nobel Peace Prize winner, Muhammad Yunus, in Bangladesh.

scholarly journals Small Business Owners’ Perception of Balanced Scorecard for Business Survival and Growth

2021 ◽  
Vol 9 (10) ◽  
pp. 14-33
Author(s):  
Dr. Emad Ahmed ◽  
Dr. Medhat Alsafadi
Keyword(s):  
United States ◽  
Small Business ◽  
Balanced Scorecard ◽  
Small Businesses ◽  
The United States ◽  
Business Owners ◽  
Small Business Owners ◽  
Business Growth ◽  
Business Survival ◽  
The Balanced Scorecard

The United States Small Business Administration (SBA) defines Small Business Enterprises (SMEs) business establishments that are independently owned managed or operated. Small business organization indicates that some of them have found the Balanced Scorecard to be very significant in boosting general performance in two key perspectives: higher complexity and management capability and drives change and enhance rapid growth. However, in the recent past, there has been increased study on the adoption of BSC in small organizations. The objective of this study was to determine the how small business owners in the United States perceive the aspects of balance score card in regard to business survivability, growth and competitiveness. Hypotheses that were to be answered include H1: Small business owners’ perceive learning and growth as the most significant perspective for their business survival, growth, and competitiveness beside the financial perspective. H2: Small business owners’ perceive customers as the most significant perspective for business growth, survival, and competitiveness. H3: Small businesses owners perceive internal business processes as the most significant perspective for their business growth, survival, and competitiveness. The philosophy adopted is positivist with explanatory and descriptive strategies. The approach of the research is quantitative using ANOVA analysis. The 100 sample companies were selected from the Best 100 small business in the SBA website and survey questionnaire sent online to this selected companies. The result of the research indicated that the most significant Balanced Scorecard perspective is the customer. At the end of the research, it was deciphered that all initiatives that the small business listed in SBA undertake when applying the BSC, customer focus is always the guiding force. Therefore, it can be stated overly that there a significant positive perception of the Balanced Scorecard as a tool to enhance growth and survivability among small businesses.

THE RELATIONSHIP BETWEEN INSTITUTIONS OF HIGHER EDUCATION AND SMALL BUSINESS IN THE UNITED STATES

1994 ◽  
Vol 02 (03) ◽  
pp. 771-798 ◽  
Author(s):  
JAIME R SILVA CASTAN
Keyword(s):  
Higher Education ◽  
United States ◽  
Small Business ◽  
Small Businesses ◽  
The United States ◽  
Institutions Of Higher Education ◽  
Business Sector ◽  
Media Attention ◽  
Advantageous Position ◽  
The Relationship

In recent years, a number of trends have concurrently contributed to promote collaboration between institutions of higher education and small businesses in the United States. These trends include academic institutions’ need for new sources of revenue, students’ growing interest in careers in business, increased media attention to entrepreneurship and small business, and industrialists’ search for a competitively advantageous position. The outcome of these relationships has been positive for both parties. The purpose of this paper, therefore, is to examine the diverse relationships between colleges and universities and the small business sector that currently exist in the United States. The findings of this paper focus on (1) how the relationships between U.S. institutions of higher education and small businesses have been institutionalized, (2) types of research methodologies used in the analysis of these relationships, and (3) the identification of specific areas for further research.

Government Support for Small Businesses in the United States of America and China

2019 ◽  
Vol 7 (1) ◽  
pp. 58-62
Author(s):  
Ю. Нормова ◽  
Yu. Normova
Keyword(s):  
United States ◽  
Small Business ◽  
United States Of America ◽  
Small Businesses ◽  
The United States ◽  
Government Support ◽  
Small Business Administration ◽  
Small Business Development ◽  
Business System ◽  
State Programs

The article discusses the place and role of small businesses in the United States of America and China. The results of the study of the current level of development of the small business sector and its support in these countries, including statistical indicators of entrepreneurship development, are presented. The study is based on the analysis of support tools for small businesses. Key features of the small business system are highlighted. The state program supports it. The main directions and program activities focused on small business development are analyzed. Special attention is paid to monitoring the activities of the Small Business Administration, measures to support entrepreneurs, state financial assistance to small businesses, and sources of funding. Based on the analysis carried out, basic state programs and the territorial infrastructure of small business support were noted, and the high socio-economic orientation of small businesses was noted.

scholarly journals The Impact of Climate and Weather on a Small Tourism Business: A wSWOT Case Study

2019 ◽  
Vol 2 (3) ◽  
pp. 255-266 ◽  
Author(s):  
Christopher A. Craig ◽  
Elizabeth Petrun Sayers ◽  
Song Feng ◽  
Brent Kinghorn
Keyword(s):  
United States ◽  
Small Business ◽  
Small Businesses ◽  
Climatic Variability ◽  
The United States ◽  
Tourism Industry ◽  
The Body ◽  
Extreme Weather Events ◽  
Climatic Trends ◽  
The Impact

Climatic variability and shifting weather patterns, resulting in extreme weather events and natural disasters, pose risks to small businesses in the United States. This is particularly true in coastal regions of the southeast United States where extreme events such as hurricanes, flooding, and thunderstorms are projected to increase in frequency and intensity. Yet, the vast majority of small business owners do not have a disaster plan in place and an estimated 40% to 60% of small businesses that have experienced a natural disaster never reopen. This teaching case explores the impact of climatic trends and weather on one location of an outdoor tourism industry business in the coastal community of Virginia Beach, Virginia. The case draws from observed weather and sales data for the local small business. Students will draw from descriptive statistics, statistical analysis, and graphs to explore (a) long-term climatic trends for the business; (b) relationships between small business sales and local weather; and (c) strengths, weaknesses, opportunities, and threats relative to weather conditions and climate change. Instructors can give the body of this document to students. They can also make use of the supplemental teaching notes to assist them with teaching this case.

Small Business in America: A Historiographic Survey

1991 ◽  
Vol 65 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Mansel G. Blackford
Keyword(s):  
United States ◽  
Small Business ◽  
Future Study ◽  
Small Businesses ◽  
The United States ◽  
Historical Research ◽  
Small Scale ◽  
Current State ◽  
Scholarly Attention

Small businesses have held a paradoxical position in U.S. history: their particular forms and structures have received little scholarly attention compared to that devoted to big business, yet they have always been a significant part—social and cultural, as well as economic and political—of American life. This essay discusses the changing views on the role of small-scale enterprise in the United States, outlines the current state of historical research, and suggests profitable areas for future study.

scholarly journals The Investigation of Association between Transformational Leadership Behavior and Job Satisfactions Among Small Business in the United States

2021 ◽  
Vol 5 (3) ◽  
Author(s):  
Abdulrahman Al-Ahmadi ◽  
Karina Kasztelnik
Keyword(s):  
United States ◽  
Job Satisfaction ◽  
Transformational Leadership ◽  
Small Business ◽  
Leadership Style ◽  
Small Businesses ◽  
Leadership Behavior ◽  
Developed Countries ◽  
The United States ◽  
Business Entities

This study has been the focus of much investigation in the search for the association between transformational leadership behavior and job satisfaction among small businesses in the United States. Several attempts have been made to the importance that small businesses have on the economy, and small businesses constitute over half of all jobs. No known empirical research has focused on exploring the association between transformational leadership behavior and job satisfaction among small businesses in Virginia. The research is based on a theoretical framework such as self-determination theory. The investigation of association qualitative research study was undertaken to explore the potential relationship between transformational leadership behavior and job satisfaction among small businesses in the United States. Results showed the importance improvement both personal lives and the health of small businesses and the microeconomy of the United States. Employee satisfaction has been a topic of interest for scientists for many years and has roots in multiple psychological theories that served as a basis for understanding job satisfaction. When employees trust leadership, this can contribute many benefits to the business, such as an increased focus on being productive at work, commitment to the organization, intent to stay with the organization, and increased profitability. Small businesses are also known for their innovation, job creation, and financial growth. Yet, some suffer from severe issues with inexperienced owner-managers, lack of resources, and competition that can significantly hinder their chances of success. The small businesses that struggle or are faced with closure represent an essential part of the economy that cannot be overlooked. However, despite their value in the economy, many still struggle due to multiple factors, including unskilled or incompetent leaders and owners, challenges related to technical expertise, and funding issues, including increased business costs that can be exacerbated by poorly performing owners or managers, who in turn may negatively affect employees as well. In fact, in developed countries, small businesses contribute 40% to 60% of the gross domestic product (GDP) and 67% of employment. The research presented here confirms that the workplace is crucial in improving teamwork from the general perspective and approach. The findings can contribute to a better understanding of the transformational leadership style for all management levels and the effect on the job satisfaction of all employees hired by small business entities in the United States.

scholarly journals (136) Effects of Healthy and Natural Ingredients in Various Beverage Lines: A Practical Approach for Small Businesses by Offering Healthy Products

HortScience ◽  
2006 ◽  
Vol 41 (4) ◽  
pp. 1014A-1014
Author(s):  
Usha Palaniswamy ◽  
Zafar Bokhari
Keyword(s):  
United States ◽  
Small Business ◽  
Small Businesses ◽  
Learning Experience ◽  
Work Force ◽  
The United States ◽  
Educational Process ◽  
Entrepreneurial Activity ◽  
Full Time ◽  
On The Road

Zafi Beverages, Inc., envisioned energy drinks, mineral natural water, healthy drinks for kids, exotic drinks, flavored drinks, and cholesterol-reducing tea. Emphasis is on non-carbonation and the use of herbal extracts. Consumption of carbonated drinks can lead to reflux, ulcer, and other stomach problems. Zafi Beverages is also developing a unique marketing approach for its products, offering a niche for small businesses and entrepreneurs. Zafi's educational process of entrepreneurship also covers the steps on the road to success: innovative, value-creating, and growth-oriented. Emphasis is also placed on ethical marketing. Small businesses employ 53% of the total private nonfarm work force, contribute to 47% of all sales in the country, are responsible for 51% of the gross domestic product (GDP), produce about two out of every three new jobs each year, and account for over half of United States GDP. Studies report that 40% of the top 1% of the wealthiest Americans got there by building a small business. Interest in small business is increasing, because many Americans believe this is one of the best paths to riches in the United States. About 16 million Americans are in some type of part- or full-time entrepreneurial activity. Entrepreneurship is attractive to people of all ages. Some unique contributions of small business concepts promoted by Zafi Beverages are to encourage innovation and flexibility, maintain close relationships with customers and community, and provide employees with comprehensive learning experience, develop risk-takers, generate new employment, and provide greater job satisfaction. Zafi Beverages is 2 years old; its growth and challenges in the development of herbal drinks for health and new entrepreneurs are described.

The Spillover Effect of Consolidating Securitization Entities on Small Business Lending

2020 ◽  
Author(s):  
Yiwei Dou
Keyword(s):  
United States ◽  
Risk Management ◽  
Small Business ◽  
Small Businesses ◽  
Spillover Effect ◽  
The United States ◽  
Small Business Lending ◽  
Loan Portfolios ◽  
Positive Performance ◽  
Small Business Loans

I investigate how the consolidation of securitization entities under SFAS 166 and 167 spills over to banks' supply of small business loans, which are rarely securitized in the United States. This spillover operates through two channels. (1) In the leverage channel, consolidating banks downsize their entire loan portfolios, both small business loans and other loans, in response to increased leverage after consolidation. (2) In the risk management channel, consolidating banks adjust the mix of loans to maintain optimal diversification. The adjustment can increase the supply of small business loans when their performance covaries positively with the performance of other loans. I find that on average, banks that consolidate more securitized assets reduce small business lending; consequently, counties with a greater market share of consolidating banks experience slower growth in small businesses. I also identify a small group of banks with sufficiently large positive performance covariance that increase small business lending.

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