Researches Conducted On Entrepreneurial Awareness Of Micro And Small Enterprises Pdf

researches conducted on entrepreneurial awareness of micro and small enterprises pdf

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This article aims to assess the impact of COVID outbreak on these businesses and provide policy recommendations to help MSMEs in reducing business losses and survive through the crisis. We adopted an exploratory methodology with comprehensively reviewing the available literature, including policy documents, research papers, and reports in the relevant field.

About the Author s. The Author s. This is an Open Access article distributed under the terms of the Creative Commons Attribution License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Background: There is increasing pressure on business organisations to behave ethically, in addition to running their operations in the most economical, efficient and effective manner possible to increase performance. Customers have also become increasingly mindful of the reputation of the businesses they patronise.

Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan

Metrics details. The pace of innovation continues to increase not only in the developed world but also in developed markets. The key issue facing many small medium-sized enterprises is related to how they can foster effective innovation.

SMEs in Iran are industrial and service enterprises with less than 50 employees, because of their size and resource limitations, they are unable to develop new technologies or to make vital changes in the existing ones. The aim of this study is to identify the most important challenges of small and medium businesses a in exploitation of innovation opportunities.

We used the exploratory factor analysis which demonstrated the following six challenges in the order of importance: managerial and human resource; research and development; technologies, national policy and regulatory environment and lack of market information. By implication, failure to innovate is likely to result in reduced competitiveness.

The importance of innovation as one of the primary means by which a firm can achieve sustainable growth Senge and Carstedt, ; McEvily et al. The role of innovation and its importance as a driver of competitiveness, profitability and productivity is well documented in the literature. The key issue facing many small-to medium-sized enterprises SMEs relates to how they can foster effective innovation using organizational supporting mechanisms McEvily et al.

Innovation is defined by Linder et al. In this matter, it should be considered to recognize and exploit innovative opportunities among available opportunities in business. Innovative opportunities refer to a set of different elements within the processes whereby actors identify, act upon and realize new combinations of resources and market needs—in order to try to benefit from their future economic potential. Present studies on innovation focus largely on drivers of product development such as creativity, resource availability Dougherty and Hardy, , mergers, acquisitions, divestitures, downsizing, and cost reduction Hitt et al.

More recently, attention has focused on the need to meet customer demands in shorter product cycles using flexible manufacturing systems Lu and Chen, Some authors associate small firms with the commercialization of disruptive technologies that generate discontinuous innovations Kassicieh et al.

Small firms usually have good internal communications and many have a dynamic and entrepreneurial management style Jones and Rowley, SMEs usually explore new technical spaces.

In sum, innovation in small firms can be more efficient and effective Lu and Chen, On the other hand, many SMEs are not innovative at all. The paper is organized as follows. Second, we discuss the research methodology employed to carry out the empirical study. Third, the analysis is presented and discussed.

Finally, the managerial implications of the results are offered. While the literature outlines a number of barriers to innovation, there is a dearth of research on what encourages and drives product development, management practices and process technologies deployment. In this paper, we identify the main challenges of SMEs with regard to the exploitation of innovation opportunities. We have focused on SMEs importance that is well documented in terms of innovation.

This study cannot be generalized to the empirical research examining the relationship between SMEs challenges and innovative opportunities. Therefore, this study fills an important gap in the literature. In order to provide a theoretical basis for the study, we reviewed previous studies on SMEs in the innovation literature.

We attended to the dearth of studies on innovation in SMEs and then extended our review of studies on SMEs to other fields. We found that generally most innovation studies in SMEs fall within two categories: first, innovation in SMEs linked with performance and economic growth, second, SMEs and innovation types.

We found that the former stream of literature has attracted more studies. Plenty of studies have been done on innovation in large firms; however, there is a dearth of studies on the types of innovation that SMEs pursue. We developed our research questions to expose this aspect of the literature. Previous research has investigated the characteristics and entrepreneurial behavior of owner-managers and how these relate to decisions concerning innovative activities in their organizations Cosh and Hughes, ; Kickul and Gundry, This could result in difficulties in distinguishing innovation development from other business activities, especially in small enterprises in which the development work is integrated into their daily business Forsman, What kinds of innovations are typical of small enterprises?

The question is also challenging to researchers who have introduced conflicting results about typical innovation types developed by small enterprises. Damanpour and Wischnevsky suggest that the generation of radical innovations will be nearest to young and small enterprises while the adoption of innovations and the development of incremental innovations will be the most prevalent in large established enterprises.

Contrary to this, Forsman and Annala found that in micro and small enterprises the development of incremental innovations is more common than the development of radical innovations. Also, De Jong and Marsili have examined innovations in small enterprises with fewer than employees. They argue that process innovation is more widespread in small enterprises than product innovation while Simon et al.

While much has been researched about high growth of SMEs, their roles and importance in the economy, what has been lacking in many of the studies in this stream is a dearth of studies relating to the identification of the main challenge of SMEs for exploitation of innovation opportunities and their impact on performance.

This is potentially a major contribution to the growth and development of small and medium enterprise literature. There is little unanimity regarding the definition of SMEs in Iran. Various ministries, institutions and organizations related to SMEs in one way or another have their own criteria to describe, categorize or define SMEs.

In contrast, in the EU, SMEs are defined as non-primary enterprises employing less than employees. They are sub-divided into:. Obviously, there is an imbalance between the large number of micro enterprises and the marginal number of small and medium sized businesses.

It can be noted that the absence of areas on cable number of medium-sized enterprises, which represents only 0.

But large enterprises constituting 13 percent of total enterprises contribute to 0. Growth in the context of employment by SMEs over the year period from to has been approximately 0. SMEs included 0. Indeed, SMEs have recorded unsatisfactory performance as regards the generation of employment.

The share and growth of service SMEs 0. Hence, industrial SMEs make a paltry contribution to generating employment in Iran. Growth of employment in industrial SMEs over the year period from to has been approximately 0. Consequently, the industrial SME sector in Iran has a tremendous potential for growth with international standards.

Starting a business in Iran is a cumbersome activity. A large number of licensed businesses are not operational at present for lack of access to finance and the very lengthy bureaucratic procedures and arbitrary measures applied by banks to potential borrowers.

Forward and backward linkages between SMEs and LSEs, in which the former are involved in the co-production and postproduction of goods manufactured by the latter is scarce, with the exception of the automobile sector where there is nevertheless still ample scope for a further increase of backward linkages. Meaningful information and statistics about the SME sector subdivided by size category, type of workers, age of companies, legal forms, technological and financial standing, production volumes, exports, level of certification, etc.

We would argue that this concept is useful to broadly grasp the type of actions and decision-making which diverse actors must engage in to identify and exploit such an opportunity and thereby drive forward an innovation process.

In other words, in our view, the conceptualization of innovative opportunities has to be more complex than the existing literature would suggest, because innovation is more than a known technology or an individual perception or an internal bundle of resources in the firm. Still, definitions of concepts are often only the beginning of the research process. It is necessary to go further than just defining concepts, breaking them down into conceptual elements which are more directly and practically useful for research and for analysis for decision-making Magnus et al.

Consequently, an innovative opportunity must consist of at least the following three conceptual elements in order for actors to have the possibility to identify, act upon and realize the potential inherent in an idea:. A possibility that at least some parts of the generated economic value can be appropriated by the actor pursuing the opportunity. Brown mentioned three research streams in SME innovation research: the economic oriented, organization-oriented and the project-oriented streams.

Economic-oriented stream studies showed that small businesses are an important driving force for innovation and that they can be as innovative as larger enterprises. The organization-oriented stream research prescribed a number of factors that small business owners could use to enhance company performance such as networking, making use of regional centers, planning carefully and developing strategies appropriate to their businesses.

Similarly, these studies prescribed how SMEs could manage innovation effectively and efficiently through optimizing organizational structure, which will be explained in the next section of this paper.

The project-oriented stream suggested that customers were important sources of SMEs innovation. Brown further commented that innovation studies in SMEs had a large diversity of focuses and much remained unknown about the ingredients for successful innovation in the small business sector.

Hisrich and Drnovsek also revealed that innovation studies in SMEs covered a wide range of issues such as barriers to innovation, regional variations in the level of innovation activities, types and typologies of innovative SMEs Jones and Rowley, , diffusion and innovation regional variations Lin and Chen, , market types Laforet and Tann, , as mentioned above, as well as innovation management and the mismanagement of innovation in medium-sized firms.

Innovation management studies in particular, often focused on hi-tech small firms Lin and Chen, , and examined in terms of process innovation Storey and Barnett, , and new product development Mosey et al. At the corporate level, corporate entrepreneurship Zhara et al.

Similarly, strategic orientation and competitive structure Salavou et al. As stated above, innovation studies in SMEs are diverse; our literature review also showed that research in this area is fragmented as innovation management is concerned new product development and process innovation were often explored in isolation and the research was often done through field studies, questionnaire surveys or case studies focusing on a small sample of companies Lin and Chen, This study, therefore, seeks to answer the following questions:.

An email questionnaire was developed to examine the main challenges of small and medium businesses in exploitation of innovation opportunities. It was assumed that owners and managers possess the most complete and up-to-date information about the innovation development of their enterprises. The questionnaire yielded responses from the representatives of small and medium enterprises. The accuracy was checked and the responses with missing values 17 respondents and, the responses with inconsistencies 6 respondents were removed from the data resulting in a response rate of Respondents were grouped by the size of an enterprise and divided into the manufacturing and services industries.

The compliance with the ethical standards requirements was approved by university research committee. For the purpose of this study, two methods were used to provide a clear account of topic. The first method was known as factor analysis in which SPSS software was applied to extract the main challenges of small and medium businesses for exploitation of innovation opportunities.

In the second method, known as PLS b method, the sufficiency of measurement model is assessed on the basis of three issues:. Discriminant validity Hulland, Other tests in this study include composite reliability, and Freidman test. SMEs were categorized in two groups such as manufacturing industries and service industries. The surveyed sample has determined that major SMEs have employees fewer than 50 staff. In the following sections, the results were closely examined to pave the way for responding the questions raised in this research.

The results of analysis determine that given factors can be divided into 6 types. Composite reliability for all constructs should be, more than 0. Results of Composite reliability analysis for constructs of this study have shown quite better than the cut-off point and reliability of all six constructs supported.

The minimum acceptable amount for this index is 0.

Micro and Small Enterprises in Assosa Town. A Case Study of Factors Affecting Performance

Background of the Study 1. Statement of the Problem 1. Research Question 1. Objectives of the Study 1. Significance of the Study 1. Scope of the Study 1.

In India, many promotional policies and educational institutions have focused on entrepreneurship education EE for the development of future entrepreneurs. Firstly, 23 interviews have been conducted to explore about EE and EA. Further data was collected from respondents through a structured questionnaire and undertaken done with the descriptive analysis: exploratory factor analysis and multiple regression method to explore the result of this study. After the analysis, it was found that EE played an important role in developing EA of the young community towards entrepreneurship. All the coefficients in the regression model are positive, which means that all the factors of EE awareness, enterprise knowledge and practical skills have a positive impact on EA affective, cognitive and behavioural. This study provides a futuristic direction to various academic institutes and government organizations on how they prepare future entrepreneurs by inculcating EA among them.

European Council for Small Business and Entrepreneurship (ECSB) and Authors Subsequently in his paper titled 'Micro data based macro level environment this awareness has been growing in recent decennia, amongst others due type of research conducted (nature of the faculties) and the prior experience of the.

Micro and Small Enterprises in Assosa Town. A Case Study of Factors Affecting Performance

Entrepreneurship is the creation or extraction of value. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often initially a small business , or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit. In the field of economics , the term entrepreneur is used for an entity which has the ability to translate inventions or technologies into products and services.

As each firm is embedded in a network of relations with stakeholders business partners , understanding how they evaluate entrepreneurial success is important. The initial qualitative study in the form of in-depth interviews allowed us to identify the indicators of entrepreneurial success that are identified by external stakeholders of micro-firms. In the quantitative study on stakeholders of 57 micro-firms, we identified the dimensions of entrepreneurial success.

Dimensions of Entrepreneurial Success: A Multilevel Study on Stakeholders of Micro-Enterprises

Africa's Public Service Delivery & Performance Review

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Lings pointed out that there is apparently a very high rate of business failure among small to medium enterprises, hereinafter referred to as small to micro and medium enterprises SMMEs 1 in South Africa. Despite the globally accepted view that SMMEs are a much-needed panacea to promote economic development, particularly that they contribute to job creation reduction of unemployment , poverty eradication, equitable distribution of income and improved lifestyle, among others, research into the causes and impact of SMME failure is still negligible in the developing and underdeveloped countries of the world and South Africa is not an exception from the challenge. Furthermore, there still lacks a consolidated framework for putting the challenge into perspective to make it easier to tackle at all levels: macro, micro and all other levels of entrepreneurial initiative envisaged. Despite the fact that SMMEs are regarded as a panacea to unemployment, for instance, unemployment in South Africa is pegged at

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Table 1: definition of MSME according to ministry of MSME. It studies MSMEs in the Indian as well as global context. Grimsholm & Poblete, conducted a detailed qualitative study of external and fair amount of experience and knowledge about the business and market. internet.

South African Journal of Economic and Management Sciences

Define the objectives of your market research

A study of factors related to successful and failure of entrepreneurs of small industrial business with emphasis on their level of education and training. This paper examines the determinants of business start-up , long and short-term success and failure of small businesses with emphasis on their education and training. Entrepreneurs and small firm success and failure have been the subject of extensive research. It is important to understand the external, internal and motivational factors responsible for business start-up, the barriers faced during the initial and continuous stages of trading and the advice and assistance available to entrepreneurs. This paper is aiming in exploring and explaining the main factors are related to successful and failure of entrepreneurs in small industrial business in ahvaz city 3. Based on a random sampling 51 enterprisers marked as successful and failures are selected.

Market research should never be underestimated. Many successful new businesses enjoy longevity because their owners conduct regular market research to understand their target market, identify consumer problems and pinpoint realistic competitors. Market research can be carried out at various stages of a business life cycle, from pre-launch and beyond. Primary market research is a kind of market research that can be carried out individually or as a business, with the aim of collecting unique data that can be used to improve products, services and overall functionality. Most new businesses will encounter three different types of customer; market research gives you the ability to understand how your target customers think and adapt to their needs in order to turn them into regular customers and brand advocates. The industry influencer An industry expert or influencer is someone that is not only highly knowledgeable about your target market, they can influence other prospective customers that trust their opinion.

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