Monday, May 11, 2020

Analysis Of Small And Medium Sized Firms - 5763 Words

CREATIVITY AND INNOVATION ENTREPRENEURSHIP; Analysis of small and medium sized firms (Small and medium scale enterprises: SMES) By Daniel Abioye, INTRODUCTION Small and medium sized firms play a prominent role in economic development (Osotimehi, et al. 2012). Hence it has been the underlining background to this study. The importance of SMES cannot be overemphasized in an economy. This is because they contribute to the creation of employment, free competitive market environments, inputs for large scale industries and so on. Drucker (1985) stated that entrepreneurship is not complete without the injection of innovation. In any business venture, the combination of innovation and entrepreneurship by an SME will need a very important spice of creativity to ensure a quick growth and development process in its environment. It is pertinent to understand that ‘creativity and Innovation’ are the engine house of economic growth. Creativity focuses on introducing a new idea/product/service Wyckoff (1991) and on the other hand innovation assist to turn the idea/product/service into a business that records success Heunks and Roos (1992). E ntrepreneurship is simply about breaking new boundaries, introducing that which is entirely new or a modification of the existing ones. Entrepreneurs are commonly known as risk takers because of their ability to break frontiers without agitation or fear of loss. The failure and problems of large scale enterprises in achieving the desiredShow MoreRelatedFlexible Working1445 Words   |  6 Pagesemployees————————————————————-4 * 1.3.2 Effects on employers————————————————————-4 * 1.3.2 Flexible working in SMEs——————————————————-4 2.0 Analysis———————————————————————————-5 * 2.1 Analysis of effects on employees———————————————-5 * 2.1.1 Advantages and disadvantages of employees—————————5 * 2.2 Analysis of effects on employers———————————————-5 * 2.2.1 Advantages and disadvantages of employers—————————5 * 2.3 Flexible working in SMEs——————————————————-6 Read MoreFive Forces Analysis of the Swedish Construction Industry1281 Words   |  6 PagesFive Forces analysis of the Construction Industry in Sweden â€Å"The authors conclude that the less competitive a market environment, the higher will be the amount of corruption by giving public servants the incentive to extract some of the monopoly rents through bribes.† (Lambsdorf, 1999) Industry background: The Swedish construction business consists of four main actors namely JM, NCC, PEAB and Skanska that historically have had exclusive rights to bid on large-scale governmental projectsRead MoreEco Friendly Sustainability Consultancy And Fee Structure1092 Words   |  5 PagesEco-Friendly sustainability consultancy is intended to be a full-time business: Monday – Friday 9 am – 5 pm Saturdays and evenings will be consultation, measuring and quoting jobs. 7. Marketing Strategy Our target markets will be small and medium sized existing buildings seeking sustainability consultancy in the surrounding region. Eco-Friendly Sustainability Consultancy will market its services by placing an ad in the yellow pages, listing with all local business and industry associationsRead MoreReview Of Government Spending On Target Market985 Words   |  4 Pages1.1.1. Government Spending on Target Market According to the Government spending with small and medium-sized enterprises report (referenced below) by House of Commons Committee of Public Accounts, the United Kingdom government is putting conscious efforts to make the public-sector marketplace more accessible for SME’s. Government spending with small and medium-sized enterprises by House of Commons Committee of Public Accounts on 18 May 2016. Retrieved 12 August 2017 from https://publications.parliamentRead MoreBusiness Relationships Within A Business Network Context1231 Words   |  5 PagesAndersson, S. Ingemar W. (2003) Innovative Internationalisation in New firms: Born Globals - the Swedish Case. Journal of International Entrepreneurship, 1, pp. 249–276. 5. Andersson, S. (2000) The internationalization of the firm from an entrepreneurial perspective. International Studies of Management and Organization , 30 (1), pp. 63-92 6. Anderson, R. and Reeb, D. (2003). Founding†Family Ownership, Corporate Diversification, and Firm Leverage*. The Journal of Law and Economics, 46(2), pp.653-684. 7Read MoreBenefits Of Supplying Quality Customer Service1085 Words   |  5 Pagesbusiness. Venkatraman and Ramanujam (1986) briefly incorporate this notion with business size by adding that size and growth are typically used as a precedent for evaluating business success. Conversely, Lash (1989) challenges this by explaining that small and large, profitable and unprofitable companies offer good and bad customer service. These conflicting concepts form the basis of the investigation into, at what point does customer service strategies diverge depending on the size or growth of theRead MoreSmes Case Study1527 Words   |  7 PagesIn the United States, businesses with less than 500 employees, typically described as small to medium business enterprises, make up 99 percent of all firms, employ over 50 percent of private sector employees, and generate 65 percent of net new private sector jobs (Kotey and Folker, 2007). However, SME’s have high turnover rates regarding employees. The major factor of cause is compensation rates. This is typically not easy to adjust in most SME’s. So, we must explore the other factors that wouldRead MoreTypes Of Collateral Used For Business Lending1474 Words   |  6 Pages When it comes to the type of collateral used for business lending, real estate is the most common one irrespective of the firm size. About 40% of all banks rank real estate as the most preferred type of collateral used for business lending in small, medium and large firms. The next most important forms of collateral used across all firm sizes are cash and other liquid assets (approx. 22%) followed by (10-15 percent of banks) personal and bank guarantees. When banks across developed and developingRead MoreSwot Analysis Of Acd J Co1446 Words   |  6 Pagesable to offer the best overall product in the industry. SWOT Analysis The following diagram summarizes how our SWOT analysis defines the Key Success Factors of the market and Distinctive Competencies of the Company. Strengths Weaknesses Distinctive Competencies Skills in marketing, communications Local presence in major market focus Entrepreneurial relationships Few people initially limit serviceable market Large company skills Small biz experience Good relationships Using technology to reduceRead MoreThe Financing For Small And Medium Sized Enterprises1606 Words   |  7 PagesThe financing for Small and Medium-sized Enterprises (SMEs) is an interesting subject for policymakers and researchers because of the major contribution of SMEs to private sectors all over the world and SMEs are deemed financially constrained (Beck et al, 2010; Berger and Udell, 2006). SMEs in industrialized countries account for more than 90% of all enterprises, contribute to around two-thirds of all workforce and almost 50% value added in non-agricultural production. Therefore, SMEs is crucial

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