The Perception of Market and Economic Risks by Owners and Managers of Enterprises in the V4 Countries

The aim of the paper is to assess the impact of the length of entrepreneurship on the perception of the most important business risks in Slovakia and the Visegrad Group of Countries (V4 countries). The empirical research was conducted in 2019-2020. It was focused on assessing the state of enterprise risk management (ERM) application. The research file contained 422 online questionnaires completed by owners and managers of enterprises (OMEs). The results of this case study were compared with the results of similar studies performed in the V4 countries in 2017-2018. In total, 1,781 OMEs participated in the surveys mentioned. The following statistical methods were used to assess the data: ANOVA, Bartlett’s test, Agostini test, good fit test, and Grubbs test. The overall results of the empirical research highlight the significance and importance of the assessment of business risks in the V4 countries. The results in Slovakia in 2019-2020 and the research results in the V4 countries in 2017-2018 show that OMEs still consider market and economic risks to be most important in their business. Market and economic risks are related to sources that exert the most negative influence on enterprise success. The results are valuable for entrepreneurs, enterprise managers and institutions that provide comprehensive entrepreneurship support in the V4 countries. The overall results are significant at the regional, national, and international levels of the V4 countries and have the ability to strengthen the competitiveness of entrepreneurs within the EU common market.

An empirical study on entrepreneurial traits and their impact on enterprise success

Purpose Enterprise success is driven by enterprise actions, which, in turn, is influenced by entrepreneurial behaviours. Behaviours are guided by traits. Hence, it is highly likely that personality traits of entrepreneur are critical to enterprise success. This paper aims at finding the relationship between entrepreneurial traits and enterprise success, identify underlying construct and examine how successful and unsuccessful entrepreneurs differ across traits. It also attempts enterprise profiling based on these traits and test predictive validity of entrepreneurial traits on enterprise success. Design/methodology/approach In this study, 396 micro, small and medium enterprises comprising both successful and unsuccessful ones are studied together across 11 personality traits. Data was analysed using various statistical techniques like co-relation, t-test, factor analysis, cluster analysis and regression to test hypothesis and arrive at given findings. Findings This study finds there is strong positive co-relations between traits and enterprise success. It establishes that successful and unsuccessful enterprises display distinct traits and significantly differ from each other. Entrepreneurial traits affect enterprise success, and the former has significant predictive value on the later (R-squared = 0.866). Practical implications The findings have implications to entrepreneurs in relation to enriching the existing traits and inculcating new ones. Financial institutions like banks can peruse the findings and include traits and behavioural aspects in borrower selection, credit appraisal, evaluation and credit decisioning, to make it more holistic. It also generates scope for further academic research. Originality/value This study contributes to existing literature and validates existing findings. It also finds that traits are contagious in nature, together of which can be grouped to build an entrepreneurs’ traits index which exerts strong influence on enterprise success.

Empirical Examination of the Relationship Between Venture Capital Financing and the Profitability of the Portfolio Companies in Uganda

PurposeThis paper empirically examined the relationship between Venture capital Financing and the profitability of portfolio companies in Uganda. Several empirical works paint an intriguing picture that VC financing is a reality in fostering economic growth of the early-stage enterprisesDesign/methodology/approachThe paper embraced a mixed-method wherein quantitative data were collected from 68 key VC stakeholders and statistical data was analysed using a multiple regression model by generating the results from the SPSS. This was supplemented by 16 semi-structured face-to-face interviews. Qualitative data were transcribed and analysed using Altas-ti.Findings The key findings from this study suggest superior performance of VC-financed enterprises following VC financing when compared to non-VC financed enterprises. The VC-financed enterprises realised tremendous growth in terms of: Return on Equity - 42.3%; profitability - 30% - 50%; Return on Assets - 44.5%. In addition, 63% of the respondents confirmed a positive impact of government regulatory policy in enhancing the development of the early-stage firms. The higher the percentage of growth the better for the growth of the company. Research limitations/implicationsThis study may assist the policymakers and business fraternity to develop policy frameworks tailored to enhancing a vibrant venture capital market in Uganda. Contribution/value-addThis study makes a vital contribution to knowledge by offering a diversified framework for enterprise success, to benefit the VC stakeholders in customizing funding programs that can propel the early-stage enterprise success in Uganda and similar emerging economies.

BUSINESS SUCCESS: DISCUSSION ISSUES OF CONTENT INTERPRETATION AND METHODOLOGICAL FRAMEWORK FOR ASSESSMENT

Effective economic activity of any enterprise, regardless of size, is an important factor in the economic and social development of the country's economy, improving the welfare and quality of life of the population, increasing the GDP of the state and the like. To succeed in business today, entrepreneurs need to be flexible and have good planning and organization skills. The growing uncertainty and variability of the external environment require entrepreneurs and managers to be highly competent in setting up business structures. Accordingly, the question arises of determining the ultimate goal of the creation and operation of the business (enterprise), as well as the formation of the terminological field (set of terms), which are used for this purpose. The purpose of the article is to deepen the study of the problem of assessing the success of entrepreneurship and ways to increase the success of small and medium-sized businesses. The relevance of the article lies in the need to disclose the content of the concept of "enterprise success", which is an integral qualitative characteristic of the state of the enterprise, reflects the presence of competitive advantages and the potential for further development. The article describes the characteristics of the concept of "enterprise success" through the systematization of the definition of the concept by other authors and highlighting the key aspects of focusing attention. The methodological approaches to assessing the success of the business of various scientists are highlighted and their developments are analyzed. Theoretical research methods have been applied to form new hypotheses regarding the definition and analysis of academic performance. The result of the study was the selection and meaningful disclosure of the most important criteria for the success of an enterprise, including measures of success for both owners and consumers and partners / investors. A “portrait” of a successful enterprise has been formed.

The impact of perceived accounting benefits on the enterprise resource planning success: The mediating role of effective system use

In the past decades, enterprise resource planning (ERP) systems have becomeincreasingly automated, particularly for routine management accounting tasks. However, therehas been little research investigating the accounting benefits of adopting ERP systems. Thisstudy investigates the role of perceived accounting benefits in ERP success. Drawing on Juran’sprinciple of ‘fitness for use,’ this study establishes a framework that captures how perceivedaccounting benefits influence effective system use, which, in turn, enhances enterprise success.Using Partial Least Squares – Structural Equation Modelling (PLS-SEM) with survey datacollected from 120 enterprises in Vietnam that have implemented ERP, our findings providestrong support for the predicted positive effect of perceived accounting benefits on enterprisesuccess, and for the hypothesis that this relationship is fully mediated by effective system use.This study is novel for two reasons. First, it is one of the first attempts to provide empiricalevidence that effective system use and enterprise success are valuable outcomes of accountingbenefits perceived to be gained from the use of ERP systems. Second, it discovers anddemonstrates that effective system use is the most appropriate system-use concept in thepresent enterprise systems-related context, a topic that remains under discussion in theliterature.

Determinants of Micro-Enterprise Success through Microfinance Institutions: A Capital Mix and Previous Work Experience

The prime objective of the study is to highlight the role of the capital mix (financial capital, social capital, human capital) on women micro-enterprise success with moderating role of previous work experience. Women owned micro-enterprise success is less as compared to the male owned micro-enterprsie, particularly in Pakistan. Rate of faliure in women micro-enterpeise is more, that is the reason women community is one of the most vulnerable group worldwide. It is evident from literature that less attention has been paid to highlight the importance of three types of capital for women micro-enterprise. To adress this issue, the current study adopted quantitative research approach and based on cross-sectional research design. Primary data was collected by using 5-point Likert scale. Questionnaires were distributed among the owners of women micro-enterprise in Pakistan by using area cluster sampling. SmartPLS 3 was used to analyze the data. It is found that financial capital, social capital and human capital has significant positive relationship with women micro-enterprise success and previous work experience moderates the relationship. Hence, this study contributed by developing a unique framework for women micro-enterprise success. It will be beneficial for practitioners to enhance women micro-enterprise success rate.

ASSESSING ENTERPRISER PROFILES ON ENTREPRENEURIAL MANAGERIAL ACTIVITIES IN ELDORET, KENYA

The purpose of this research is to analysis of enterpriser profiles on entrepreneurial managerial in Bungoma, Kenya .Efforts have been made to support entrepreneurial managerial activities training and the provision of consultative services; interestingly, the failure rate still remains high Neither research on the entrepreneur personality nor enterpriser profiles have demonstrated a decisive influence on entrepreneurial managerial activities. The study adopted a post-positivism research , with research design of explanatory survey .The target population and sample size were adopted from a thesis selected from Eldoret, Towns .Data was analyzed quantitatively using techniques such as: Multivariate analysis, structural equation modeling. Finding indicates: entrepreneurial competencies, mentoring, enterpriser profile and enterprise success dimensions were sufficiently reliable and valid to be included in the subsequent model testing. The measurement model results suggest that the model provides a reasonably good fit and thus it was suitable .The CFA results supported the measurement model.

Insights of Work-Life Balance: Crafting Enterprise Success

Some say that “Managers are born and not made” whereas few are of the opinion that “Some are born with it and some imbibe it”. Gone are the days when education was treated as a mere product and not a wholesome process. In today’s rapidly changing world, the emphasis is on how the budding managers and students can tackle a situation and can apply their knowledge through an effective teaching and learning process. In today’s managerial world, the element of work-life balance is one of the key factors for the employees to achieve success. Keeping this in mind, we can see that organizations have devised various policies, programs and initiatives to help their employees to achieve the work-life balance between the work commitments and family responsibilities. The effectiveness of such programs and initiatives depends upon the extent of usage by the employees to achieve work-life balance. It has been found that outcome-based education will play a major role in establishing a proper work-life balance in the days to come. Taking these aspects into consideration; this paper tries to study the effect of the outcome- based education on the professional world; to find out how the various skills acquired through outbound learning systems can be effective in professional practice. The paper would deal with the concept of work-life balance in this regard.