The connection between trade credit and SMEs cannot be belittled which enable this study to examine the impact of trade credit on small and medium enterprises using Nigeria as a case study. The study employed frequency analysis, logistic regression and correlation analysis as the estimation techniques. The study found that cost of trade credit has a coefficient value of 0.036, standard error of 0.093, with the sig value of 0.701, indicating that cost of trade credit is positively important, but it is not significantly accessible to the SMEs. More so, credit flexibility has the coefficient value of 0.018, standard error of 0.091 with the sig value of 0.846, indicating that credit flexibility has a positive impact but not significant to influence SMEs. The study concluded that cost of trade credit affects SMEs, and credit flexibility has a positive impact on SMEs, while credit grant revealed a positive effect on the performance of SMEs, though government restriction has a negative impact on SMEs but not significant during the study period.
Does an oversimplified idea about a person interfere in the business negotiation process? In this article, we addressed that puzzling question through a t-test of N=300 Brazilian business negotiations, aiming to provide scholars with a new perspective on business negotiations. We conducted an experiment dividing ten negotiation training sessions into two groups: m1 and m2, with 150 negotiations each group, totaling 600 participants. An independent-samples T-Test was applied to the collected data. Key findings pointed out a statistical significance on the alternate hypothesis, meaning that stereotypes interfere in the business negotiation process. Finally, the implications of these findings for managerial practice are discussed.
The competitive nature of our business environment requires innovativeness and creativity to achieve performance. Being innovative and creative is important but being competent is very vital for any business growth. These can be achieved through training, learning new skills, attitudes, personal relationships, being initiative, information seeking and the rest to achieve entrepreneurial objectives. The paper therefore examines the competencies required for entrepreneurial performance, as influenced by personal traits and leadership skills. The paper adopted a theoretical approach and reviewed the relevant literature as a basis for the examination of entrepreneurial competencies and performance. Finding shows that engaging in entrepreneurial core competencies, personal traits and learners skills are positively related to business success. Engaging in managerial role, entrepreneurs require organizing and relationship competencies which are positively related to business success. The study recommended that government should be devoted to allocating resources for training and education. Entrepreneurs should desire entrepreneurship training and be more proactive. The study concluded that though entrepreneurial competencies are learnable through entrepreneurial training programmes and education they also serve as yardstick for formulating appropriate strategies and which when implemented enhance the attainment of business goals.
Comparative Analysis of Business and Consumer Buying Behaviour and Decisions: Opportunities and Challenges in Nigeria (Published)
Business markets and consumer markets are alike in some key ways. For example, both include people in buying roles whose purchased decision is to satisfy needs. But business markets also differ in many ways from consumer markets. For one thing, the business market is enormous, far larger than the consumer market. Within Nigeria and other sub-Saharan African countries the business market includes more than 13 million organizations that annually, purchased trillions of Naira worth of goods and services. This paper also focused on the traditional tools and techniques employed in the marketing of goods and services to the business sector. Attempt was made to draw attention on the major differences between consumer and business markets – dissimilarities that, while using the same basic marketing tools and techniques, spelled the difference between success and failure in the contemporary business marketing environments.
Influence of Social Media on Communication Skills and Academic Performance of Business Education Students in Colleges of Education in Southwest, Nigeria (Published)
The study assessed the influence of social media on communication skill acquisition and academic performance of business education students. The study had two specific purposes, three research questions and two hypotheses. Descriptive survey design was adopted for the study. The population consisted of 461 respondents. A structured questionnaire tagged Influence of Social Media on Communication Skills and Academic Performance Questionnaire (ISMCSAPQ) was used to collect data from the respondents. The instrument was subjected to face and content validation by three experts with a Cronbach reliability coefficient of 0.87. Mean and standard deviation were used to analyse the data to answer the research questions while linear regression statistic was used to test the hypotheses. The findings revealed among others that social media use significantly positively influence communication skills and academic performance of business education students in colleges of education. It was concluded that social media when used effectively for academic purposes is capable of improving communication skills and academic performance of Business Education students in colleges of education. The study is potentially of great significance to teachers and students, enabling them to recognize, accept and deploy social media as implements of teaching, learning and skill acquisition. It was recommended among others that students should be encouraged to use social media to acquire necessary information while government provide conducive learning environment such as e-library for academic excellence.
Performance Evaluation of Chinese Companies across Various Sectors in Bangladesh Business and Built Environment (Published)
Bangladesh is a country with about 168million people with a GDP growth of 6.5% 2004. This is due to its market-based economy which is the 43rd largest in the world in nominal terms, and 30th largest by purchasing power parity. With its geographical location, economic and population fundamentals, it has attract foreign direct investment (FDI) allowing it full participation in regional and continental development partnerships with its neighbors especially China. China viewed Bangladesh as a crucial and vital partner to its regional development plans especially to its land locked western region. These led to Chinese companies entering the Bangladesh economic sectors to invest and execute projects. However, these Chinese companies must take (or have taken) into cognizance the labour laws, the available & the level of human capacity, the business terrain, the cultural ramifications of the Bangladesh workforce, also the priorities and dynamic government policies. These will influence the performances and overall success of collaborations across various sectors. The study evaluated the performances of Chinese Companies across Various of Bangladesh. It also provides a summary of the main findings in line with the research problem and the research aim. The literature reviewed led to identification of the twelve sectors. The evaluations and assessment show that the performance of Chinese companies across the twelve sectors varies accordingly and that they have a very good performance across eight sectors and satisfactorily / fair across four sectors. These performances are influenced by the levels of collaborations of Bangladeshi people, government and country towards the Chinese companies across various sectors. Altogether, and over some time will lead to better understanding of each other’s work habit, culture, barriers and differences that may will boost the performances of the Chinese companies in future collaborations.
Studying the Effect of Leadership Styles on the Business Performance of SMES in South-Eastern Region (Published)
This study aims to explore the effect of leadership styles on the business performance of SMEs in South-Eastern region. The research result is a science evident for managers to improve the business performance. The researcher surveyed 250 managers of small and medium enterprises (SMEs) and answered 12 questions but 212 samples processed. The primary sources of data collected from July 2017 to November 2018 in South-Eastern region. Simple random sampling technique. The Data analyzed Cronbach’s Alpha and the exploratory factor analysis (EFA), which used for multiple linear regression and using partial least squares method. Managers’ responses measured through an adapted questionnaire on a 5-point Likert scale. In addition, the findings of the study have two factors affecting the business performance of SMEs in South-Eastern region with significance level 0.05.
This study x-rayed agricultural sector as the engine of economic growth in Economic Community of West African Countries (ECOWAS); more so as the agricultural sector employs over 70% of the labour force and provides the means of livelihood for the greater population in the region. Furthermore, it is the believe that improvement in the agricultural sector productivity will likely enhance the per capita GDP growth of the ECOWAS. Data was collected using documentary evidence (secondary data). Time series methods of analysis such as panel unit root tests, panel co-integration test, panel co-integration regression method using fully modified ordinary last squares (FMOLS) model were employed for the analysis. The variables analysed include the GDP per capita (the dependent variable) and agricultural sector output per capita, capita stock per capita, industrial sector output per capita, services sector output per capita and government expenditure per capita (independent variables). The results established that agricultural sector output per capita, capita stock per capita and economic institutions exert no significant impact on per capita GDP of ECOWAS. However, government expenditure, industrial sector output and service sector output, all measured on per capita basis, significantly impacted on ECOWAS countries per capita GDP growth. The study concluded that only Government provision of services per capita, and industry sector output per capita significant stimulated growth in ECOWAS countries. Capital stock per capita and economic institutions did not. The study recommended efficient resources investment and functional institutions to further promote growth in the ECOWAS countries.
Business Continuity Management: Definitions, Drivers, Practices, Key processes and Effectiveness (Published)
This paper sheds light on the concept for business continuity management, its definitions, key processes and effectiveness. The paper gives also a clear understanding of the BCM drivers, practices
Use of Business Continuity Management to Mitigate Operational Risk: The Case of the Al-Thuwairat Construction Company, Saudi Arabia (Published)
Construction companies face a number of operational risks in their projects, ranging from the risks of changing weather conditions, to the problem of insufficiently skilled staff (Cohen & Palmer, 2004). It is essential to ensure that all of these risks are effectively identified and controlled by the risk management division. This dissertation conducts a case study of a construction company in Saudi Arabia, the Al Thuwairat Construction Company, which aims to evaluate the extent to which the company’s model of business continuity management is effective at managing operational risk. The research has been carried out based on a mixture of secondary research, a survey conducted with the company’s employees, and semi structured interviewees with people working in the company’s risk management division, in order to explore this research issue. The findings of the research suggest that, although the company’s operational risk management is effective given that it controls many of the risks with the use of legal contracts, it engages in the systematic identification of risks at the beginning of projects, and it also uses the expertise of a range of personnel who are skilled in risk identification and measurement, there are also many weaknesses. These include the fact that there is no systematic methodology for assessing the effectiveness of risk management, and that there is a lack of communication between the risk management division and the rest of the organization. A series of practical recommendations are made in the dissertation to increase the effectiveness of risk management within this company and in companies in the construction industry in general.
The Regent Business Schools New Entrepreneurial Centre: Towards Transforming South Africa’s Past and Reformulating the Present (Published)
The paper looks at entrepreneurship in terms of its importance to South Africa. In this regard it discusses the importance of initiatives like the Regent Business Schools proposed new Entrepreneurial Centre which will be opened in the latter part of 2016. A brief historical perspective is undertaken in this regard, in order to firstly situate the thrust, importance and necessity of the entrepreneurship and entrepreneurial dynamic, as it relates to a democratic South Africa. This is undertaken within the context of development and leadership in South Africa. The importance of entrepreneurship cannot be under estimated, in terms of development and economic growth in South Africa for purposes of stimulating much needed small business development and, the empowerment of the masses of people neglected by the administrative government systems by both, the apartheid and democratic government, post 1994. In undertaking the discussion in this paper, the issues towards transforming South Africa’s past and transforming the present assumes significance, in terms of the transformation agenda of the state. In addition the paper very briefly discusses development theories, and calls for a reformulation of these theories in order, to engineer sustained and coordinated development within developing countries. The paper outlines the strategic plan for the Regent Business Schools Centre for Entrepreneurship and its modalities for engagement for purposes of consolidating this important and necessary initiative. By the same token, the paper discusses very briefly the problems that higher education confronts in respect to access into higher education in South Africa and, therefore, posits that entrepreneurial training and development can assist in solving some problems that the country confronts, in terms of access to higher education and entrepreneurial development.
Traditionally, commercial banks lend money to large, credit-worthy corporations and avoid doing business with small and medium enterprises due to the associated risks and costs. These small and medium enterprises depend on microfinance banks to obtain loans for their businesses, but for some reasons, some of these businesses do not approach microfinance banks for loans. This research investigates reasons why some businesses do not apply for loans from microfinance banks even though they need funds for the efficient running of their business. Results show that lack of collateral, ignorance of businesses about the existence of microfinance banks, and high interest rates are the main reasons that are hindering businesses in applying for loans from microfinance banks. Microfinance banks need to reach out to economically active poor businesses that cannot obtain loans from commercial banks or other financial institution.
Business Benefit Concerns of Women Processors of African Locust Bean Seeds for Poverty Reduction in Enugu State-Nigeria (Published)
The study was carried out to find solution to the business benefit concern of women processors of African locust bean seeds for poverty reduction in Enugu state-Nigeria. Three research questions guided the study. Survey and Quasi-experimental design was adopted by the study. The sample for the study was 326 made up of customers from Ogbete (150), Obollo-afor (80 and Ogige (96) markets all in Enugu state. The instruments for data collection were interview schedule, counterfactual questionnaire items, interest inventory and experimental records. Data were collected by the researchers with the help of two assistants selected based on their familiarity with the study area and ability to interpret the questionnaire items in local dialects of the respondents. Percentage was used for quality analysis of the interview schedule (phase 1A), mean was used to answer research questions one (phase 1B) and three while market record was used to answer research question two. The study found out that customers rejected machine processed locust bean because of sour taste, low keeping quality and contamination among others. The study also showed that when the limitations of machine processed locust bean were eliminated through experiment, customers’ demand for the product increased which was indicated by the interest inventory data. The study therefore recommended that workshop should be organized at the local levels by extension officers for re-training of women processors and machine operators using the identified steps in the experimented processing of locust bean seeds to help overcome the business concerns of the women for poverty reduction in the Enugu state.
The historical changes in our country as those of world historical periods of time have influenced considerably in the media evolution. The masmedia service as a service offered by third parties, with no participation from state, has been concessed to the private sector upon a rigid rule of the respect for the principles in a democratic society. The service of masmedia has some given features such as: (i) It is offered in respect of the public interest (ii) It is offered from the private profitable sector (with the exception of the state/public institutions) (iii)It should function as a watchdog of the other 3 state pillars executive, legislative and judicial. (iv) is should have an informative, educational, entertainment, investigative, cultural, scientific according to the characteristics of the community in a countr (v) It should be independent from any intervention. Media is established in the form of a commercial company, such form been given in accordance with the will of the founders, (members, shareholders, societies) as well as in accordance with the legal requirements. Most of the countries legislation require for a company that offers media service to be registered in the form of a shareholder company (joint stock).
A Consideration of the Possibility of DoS and DDoS Attacks That Could Guarantee Downtime and Unavailability of Services to Customers for Businesses and Government Institutions in Ghana. (Published)
This paper discusses the possible security attacks that most services provided by businesses and government organizations are vulnerable to. Specifically exhausting discussion on Denial of Service and Distributed Denial of Service attacks and the measures to address this issue.
The purpose of this paper is to examine the determinants of an internationalization strategy and its impact on success and business performance. To achieve this objective, data were collected through surveys using a structured questionnaire administered to 385 Polish small and medium-sized enterprises (SMEs) that are involved in launching and developing their products in international markets. A confirmatory factor analysis was conducted to examine the reliability and validity of the measurement model, and the structural equation modeling technique was used to test the research model. The results of the study confirm that internationalization strategies of Polish SMEs are influenced by six factors that are: managerial expertise, dynamic capabilities, risk aversion, alliance capabilities, foreign market orientation and markets knowledge
TAX INCENTIVES AND THE GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES IN DEVELOPING ECONOMY –The Nigerian’s Experience. (Review Completed - Accepted)
The importance of Small and Medium Scale Enterprises (SMEs) in the economic development of any country in recent years cannot be underrated especially with regard to creation of employment, innovation, uplifting the people’s standard of living and financial contribution to the growth of the countries’ Gross Domestic Product. This sector’s growth is hindered by the challenges of lack of financial resources to expand, the entrepreneur managerial skills/attitudes, employment of cheap and unskilled labour, production of poor quality goods, lack of market for their products, inadequate infrastructural facilities and above all unpleasant taxation policy of the government. In the light of all these, this study reviews the role being played by various governmental tax incentives on the growth and development of SMEs growth in developing economy with special focus on Nigeria. The study employed descriptive design, thus, primary data was collected on variables contributing to tax influence and their effect on the growth of SMEs. A sample of 100 respondents representing a percentage of targeted population enterprises in the production sector of Osun State Industrial area was selected through Stratified and Simple Random Sampling techniques. Data collected through questionnaires, interviews and observations when necessary was analyzed using ordinary least square regression model to estimate the contribution of each variable to the growth effect of SMEs. The study found that there was a significant correlation between taxation and SMEs’ growth. The study recommends that there should be a friendly tax policy for all start up businesses preferably a tax holiday, or an introduction of a growth limit which can be said to be a level stable enough to sustain tax payment.
Rural Community Support as Elixir of Rural Business and Entrepreneurship Development (Review Completed - Accepted)
The purpose of this study is to establish the effect of community support on the rural business and entrepreneurship development. From the analysis of data collected and hypotheses tested, the study concluded that (i) the existing community support in the rural areas of Oyo State is gender biased, (ii) Rural business and Entrepreneurship development to some significant extend reflect the tempo of community support level in a given rural setting and (iii) Community social indices support in the rural region of Oyo State, have a kind of significant effect on rural business and entrepreneurship development, based on these conclusion some recommendations were made to the government and the community leaders.
Talent Management – An Emerging Strategy To Create a Higher Performing Workforce (Review Completed - Accepted)
This paper describes the concept of talent management as an important pillar of the organizational growth in a holistic way .In this competitive era when each and every firm focuses on their human resource as a valuable asset in order to achieve organization’s objectives. They want to get the best talent from the environment through various means and then managing that talent with complete effectiveness and efficiency. This helps them in maintaining a competitive advantage over others. With this ideology the concept of talent management came into picture. This term came was coined by McKinsey & Company in their publication titled “War on Talent”. Talent management refers to the anticipation of required human capital for an organization and planning to meet those needs. It is the science using Strategic Human Resource Management to improve business value and also to make it possible for companies to reach their goals. Talent management strategies focus on five primary areas: attracting, selecting, engaging, developing and retaining employees. It is very substantial to say that a talent management strategy needs to be linked to the business strategy. Through this paper we want to reflect that the approach of talent management is more evolved and advanced aspect of strategic management