The Jordanian economy is mainly considered a SMEs based economy where small and medium enterprises (SMEs) contribute 98% of Jordanian enterprises and their Employees represent around 60% of the labor force with a total product counts around 50% of the GDP. SMEs sector has been faced with many challenges that have started with development happening in Jordan into a highly freed and open market economy. The whole thing was quickly moving and upgrading, which resulted in a biased and a long-lasting effect on SMEs. Jordan started its open market policy and deregulation in 2000 and then Nine years later the SMEs sector was affected again with the economic disaster. SME plays an essential role in improving Jordanian employment section. This research shows the impact of SMEs in reducing the problem of Unemployment in Jordon. It highlights the main factors affecting the improvement and job opportunities creation. There is increasing evidence that SMEs play an essential role in the economic development in Jordan. SME’s provide the majority of new jobs opportunities and produce much of the creativity that leads economic progress. SMEs is the only solution to open new job opportunities to a huge number of Jordanians. This paper highlights this to measure how SMEs can reduce unemployment problem in any country and considering Jordan as case study.
Relationship between Strategic Planning Process and Financial Performance of Professional Service SMES in Kenya: Moderating Role of Innovation Practices (Published)
This paper investigates the relationship between Strategic planning process and financial performance of professional service SMEs in Kenya. Specifically, the study had two specific objectives of the study: first, to analyze the effect of strategic planning process on the financial performance of professional service SMEs in Kenya and secondly, to test the moderating effect of innovation practices on the relationship between strategic planning process and financial performance of professional service SMEs in Kenya. The study targeted 384 SMEs as the sample size, with data collected from managers/owners through questionnaire. SMEs were randomly selected while respondents were selected through purposive sampling. The study findings indicated that innovation practices have a moderating effect on the relationship between strategic planning process and the financial performance of professional service SMEs in Kenya. From the findings, it can be concluded that SMEs with strategic planning practices and innovative practices are likely to have better performance than SMEs that have adopted strategic planning process only.
Marketing Strategies and the Performance of Small and Medium Enterprises in Akwa Ibom State, Nigeria (Published)
The study examined the impact of three marketing strategies (product quality, marketing communication and relationship marketing) on the performance of selected Small and Medium Scale Enterprises in Akwa Ibom State, Nigeria. The study was motivated by the fact that SMEs in Akwa Ibom State find themselves in a competitive environment and may not know which marketing strategy is effective in improving their business performances. The study adopted the survey method. 240 questionnaires were issued to SMEs in the three senatorial districts of the State. This formed the sample of the study. The data obtained was analysed using Pearson Product Moment correlation analysis which was computed electronically by the use of Statistical Package for Social Science (SPSS) version 21. The study revealed that there is a significant impact of product quality strategy and relationship marketing strategy on the profitability and increased market share of SMEs in Akwa Ibom State. The study recommends that SMEs should invest so much in product quality rather than in advertisement as this would enhance the firm’s profitability. Also, the customers should be valued and treated as kings as cordial relationship between firm and customers results in the increase of the organizations market base.