Business Survival Research Articles

Critical Factors Influencing Bid Mark-up Decision in Public Street Project – A Review

Deciding a bid price with an appropriate mark-up added to the estimated project cost is essential for the contractors' business survival. However, the competitive environment had influenced contractors to offer the lowest bid price, leading to the submission of unrealistically low prices to win bids. This practice can impact disputes and adversarial relationships between parties during construction and provide an additional risk to the project delay, cost overrun, quality compromise and failure to complete the project. Therefore, this paper aims to provide an overview of the literature on critical factors influencing bid mark-up decisions in public street projects. The objectives are to identify methods and tools, including the critical factors in determining the contractors' bid mark-up decision. The approach is based on analysing pertinent publications on the theme. The top five (5)ranked factors influencing contractors' decision on bid mark-up size can be found in the literature: the number of bidders, the competitiveness of other bidders, relationship and experience with clients, experience on similar projects and project size. Besides that, the determination of mark-up size is based on experience, intuition, past bidding results, past bidding patterns ofcompetitors, the client's tender estimate, the client's record, and financial ability.

Analysing Factors that Enhance the Growth and Survival of Small and Medium Enterprises in Ghana

The economy of Ghana has been growing consistently during the recent years, and this growth has increased poverty and increased the number of middle-income countries in the region. Meanwhile, the current regional and global economic slowdown requires a new growth model for Ghana, with strengthened fluctuation for Small and Medium-sized enterprises (SMEs) to raise national productivity. Small and Medium Enterprises (SME’s) in Ghana play a dynamic role in the development of this nation, and this cannot be over- emphasized. It also serves as a means of employment in the country thus releasing the pressure on the civil and public sector in the case of employment. The study seeks to solve a problem of technology by Small and Medium Enterprises (SME’s) surveyed in Ghana by using PESTEL theory. It that painful process that Small and Medium Enterprise face to access the loan. Examine the various causes that hinder the growth and survival of small businesses in Ghana. To examine the variables that leads to the growth and survival of small businesses. To enumerate various sources of funds available to SMEs in Ghana and to ascertain the impact of hindrances by SME‟s to the growth of Ghana economy. Finally, the study also revealed that most of the entrepreneurs do not have much knowledge in using technology and it has affected the growth and the survival of SME. It is believed that if all the recommendations are taken into consideration, that entrepreneurs must regard the legal aspect of their day-to-day activities and process the necessary documents to avoid legal actions taken against them.

An Exploratory Study on the Impact of Social Entrepreneurship Orientation on Business Survival during the COVID-19 Pandemic in Indonesia

An Exploratory Study on the Impact of Social Entrepreneurship Orientation on Business Survival during the COVID-19 Pandemic in Indonesia

Assessing the Level of Educational Domain Development among Entrepreneurship Students: Inputs for Enhancing the Entrepreneurship Program Teaching Technique

Over the past years, higher education institutions have been impelled to create courses and environments in the field of entrepreneurship education as this programs contribute to economic growth in terms of job creation, business survival, and technological change. Entrepreneurial education and training equipped students with the capability to identify business opportunities in the society, build self-confidence, knowledge and skills to act on them. With this, teachers were continuously being challenged to design effective teaching strategies and techniques and plan meaningful activities for the students. This descriptive research aims to investigate the 3rd and 4th year students in a state university enrolled in the Entrepreneurship their assessment on the teaching techniques delivered by teachers teaching in the program and the domains that contribute to entrepreneurship attitude. The students assess the effectiveness of the eleven teaching techniques utilized by the teachers and the four domains of entrepreneurship attitudes. Findings shows that students’ assessment sees students-centred teaching techniques as more effective than teacher-centred teaching techniques. Business incubation, product development and visiting entrepreneurs are the top three teaching techniques that they perceived as effective while lectures, reporting and case analysis ranked the lowest among students assessment. Though the teacher-centred techniques ranks lowest among students, these are the teaching techniques that develop both the behavioral and cognitive attitude of students in entrepreneurship. Products conceptualize in the business incubation and used in the business plan concept, are student-centred teaching techniques which develop both the affective and skill-based educational domain of entrepreneurship.

The Non-linear Impact of Risk Tolerance on Entrepreneurial Profit and Business Survival

The Non-linear Impact of Risk Tolerance on Entrepreneurial Profit and Business Survival

Role of Strategic Leaders in Unexpected Healthcare Crisis Management

Objective: This study aims to explore the roles of strategic leaders in business concerns and how they maintain sustainability in business during an unexpected crisis like the COVID-19 pandemic. The present study investigated the effects of the COVID-19 pandemic crisis on the healthcare industry, organizational performance, and various leadership strategies to overcome such a crisis. Methods: Hospital leaders frequently face new challenges, especially in a healthcare crisis like a pandemic, which may be beyond the scope of the current leadership practices. Additional unavoidable responsibilities may arise, affecting employees' productivity, emotions, adaptability, and leadership styles in a crisis. Result: Transformational leadership is identified as suitable for leaders in a crisis to motivate employees and introduce rapid changes to maintain sustainability. Employee engagement, motivation, innovation, creativity, and many more are critical for a business's survival in a crisis. Transformational leaders are active and utilize different tactics to formulate and implement decisions, provide motivation, promote innovation, display the significance of supporting the organization, and strengthen employee engagement. Conclusion: Influential leaders have roles ranging from routine management activities to handling extra-work roles such as strategy formulation, technology expert, coach, mentor, entrepreneur, etc. Swift changes in leadership styles are necessary to accommodate such rapid changes brought by crises in the healthcare sector for work situations.

СУЧАСНІ ПІДХОДИ ОЦІНКИ ЕФЕКТИВНОСТІ МАРКЕТИНГУ НА ПІДПРИЄМСТВАХ МАЛОГО БІЗНЕСУ

Modern approaches to assessing the effectiveness of marketing at small businesses are key to ensure their sustainable development and competitiveness. In the context of globalization and the rapid development of digital technologies, small businesses face the need to adapt their marketing strategies in order to compete effectively in the market. This article highlights modern methods and tools for evaluating marketing performance that allow small businesses to measure the impact of their marketing efforts. The relevance of the topic is high, especially in the context of military conflicts that significantly affect economic stability and market conditions. War forces small businesses to rethink their marketing strategies, adapting them to rapidly changing conditions and unpredictable challenges. This includes exploring new distribution channels, refocusing on local needs and finding innovative ways to attract customers in conditions of limited access to resources and communication. It is also important to develop flexible marketing plans that can quickly adapt to changes in society and the economy caused by war. In this context, assessing the effectiveness of marketing becomes key to the survival and development of small businesses, which allows them not only to survive in difficult conditions, but also to find opportunities for growth and development even in the most difficult times. The main elements of modern marketing performance assessment are the use of key performance indicators (KPIs), big data analysis, social media monitoring, and the use of marketing analytics. These tools allow you to collect detailed information about consumer behavior, the effectiveness of advertising campaigns, as well as the impact of marketing efforts on sales and customer loyalty. Also, an important aspect is the integration of digital marketing. Particular attention should be paid to website optimization for search engines (SEO), content marketing, e-commerce, as well as the use of digital communication channels such as social media, email, mobile marketing. Taking into account the specifics of small businesses, such as limited resources and the need to quickly adapt to changes, is key in choosing methods for evaluating efficiency. Effective use of analytical tools and approaches helps small businesses to develop flexible and targeted marketing strategies that promote their development and growth in a competitive market environment. Effective marketing helps to attract new customers, maintain existing ones, and increase overall competitiveness in the market. Measuring and analyzing the results of marketing campaigns allows small businesses to better understand their audience and adapt strategies to changing market conditions.

Survival of young agropreneur business sales towards post pandemic: Selangor state experience

Survival of young agropreneur business sales towards post pandemic: Selangor state experience

Corporate Leverage Decisions in Malaysian Property Sector: Before and During Pandemic

Financial constraints and leverage decisions have challenged the survival and expansion of property businesses, especially during unfavorable economic conditions. This study aims to investigate the factors of corporate leverage in the Malaysian property sector from 2015 to 2021, covering the coronavirus disease (COVID-19) pandemic. The sample size of this study consists of 55 top-listed property companies in Bursa Malaysia. Six pre-determined factors from the current literature include profitability, firm size, tangibility of assets, liquidity, growth opportunities and non-debt tax shields. On top of the full-period test, this paper examines the possible changes in the relationship before and during the COVID-19 pandemic. Overall, our panel data analysis shows that firm size and growth opportunities significantly positively affect leverage, while liquidity negatively correlates with leverage. In our sample, profitability and non-debt tax shields do not exhibit significant roles in the relationship with corporate leverage. Our conclusion is robust across the periods of study and regression models. It contributes updated empirical evidence to the already scarce studies of financing decisions in the sector, which plays a crucial role in driving the nation’s economic growth.

Digital Marketing in the Survival and Growth Strategies of Small and Medium-Sized Businesses During the War in Ukraine

This article shows the impact of the war on small and medium-sized businesses in Ukraine during the full-scale invasion of the Russian Federation, which started on February 24, 2022, and ended in September 2023. The object of the study is small and medium-sized enterprises that carry out business activities in Ukraine during a full-scale invasion. The research objective is to determine the business strategies and Internet marketing strategies used by small and medium-sized enterprises after full-scale invasion. The purpose of this study is to identify the most effective Internet marketing strategies and Internet marketing tools that helped small and medium-sized businesses survive the full-scale invasion of Ukraine by the Russian Federation and continue to grow. The study was conducted through in-depth interviews with representatives of small and medium-sized businesses from different regions of Ukraine and from different fields of activity. Based on the categorical analysis of the responses, three periods of enterprise survival were summarized according to the chronology of military and political events in the country. The relevant Internet marketing strategies of small and medium-sized enterprises are identified. Business strategies and Internet marketing strategies that helped small and medium-sized enterprises increase their pre-war economic performance are also highlighted. Certain reasons for the deep crisis of small and medium-sized enterprises are outlined. The intensity and effectiveness of the use of Internet marketing tools by small and medium-sized businesses after a full-scale invasion are determined. The peculiarity of the results is the study of Internet marketing strategies and successful business strategies of small and medium-sized enterprises during the war. The scientific novelty of thisstudy is that it classifies the periods of survival and growth of small and medium-sized enterprises and identifies the most effective Internet marketing strategies for these periods. The efficiency and intensity of using Internet marketing tools were also systematized. The results obtained in the study will help small and medium-sized enterprises overcome crisis conditions and identify areas for the effective use of digital marketing. The findings are of practical value for small and medium-sized enterprises in other countries where there is a possibility of armed conflict.

Risk Management Strategies: An Empirical Analysis of Strategies Employed by Tourism Business Managers in Plateau State, Nigeria during the COVID-19 Pandemic

81 Vol. 19, Issue 1, 2024: 81–98 DOI: 10.15170/MG.2024.19.01.05 Iirmdu, Tina Odinakachi1 – Donaldson, Ronnie2 Risk Management Strategies: An Empirical Analysis of Strategies Employed by Tourism Business Managers in Plateau State, Nigeria during the COVID-19 Pandemic 3 ABSTRACT The ‘new normal’ era of the COVID-19 pandemic had debilitating effects from a number of restrictions on businesses that have had a significant impact on the travel and hospitality sectors. Chaos theory is applied to investigate the risk management strategies employed by tourism business managers in Plateau State Nigeria, during the pandemic. Interview responses were subjected to qualitative analysis and the findings of this study are consistent with chaos theory. As risk management strategies for the survival of tourism businesses, order and new stability reemerged from a chaotic tourism crisis era. Due to their experiences with the epidemic, managers and owners of tourism-related enterprises decided to base their decisions on planned behaviour. The viewpoints and experiences of managers of tourism-related businesses are valuable sources for practical risk management strategies that can be used in the event of a pandemic. These are priceless resources that will help other tourism sector players comprehend and weigh their alternatives for handling such extraordinary situations in the future.

Survival of young agropreneur business sales towards post pandemic: Selangor state experience

Survival of young agropreneur business sales towards post pandemic: Selangor state experience

How country of origin, perceived quality, and trust influence intention to purchase sars covid medications

To maintain business survival and continuous research and development in the medical product industry, investigating the factors that influence the public's intention to buy Sars Covid medications is a primary mission for all the related medical institutions. This research aimed to examine how product attributes (country of origin and perceived quality) influence user attitude (consumer trust) and user decision-making (the intention to buy medications). Researchers collected data from 800 Thai people who were previously infected with COVID-19 using a convenience and snowball sampling method. Data were analyzed using a path analysis technique. Results indicate that consumer trust was influenced by country of origin and perceived quality. Furthermore, the intention to buy Sars Covid medications was influenced by trust and perceived quality, but not country of origin. Finally, consumer trust mediated an association between country of origin and intention to buy the medications. These results provide supportive evidence to the proposed theoretical model which underlines the relationships between product attributes, user attitudes, and user purchase decisions on Sar Covid medications. Particularly, this research contributes to the understanding of how country of origin and perceived medication quality influence patient trust which paves the way for their decision to purchase the medications for their future consumption. Thus, recommendations have been provided to all related medical institutions to consider labeling the country of origin on the medication packages, promoting medication quality to the patients, and enhancing patient trust. Therefore, these can positively lead to high purchase decisions among the patients.

МАРКЕТИНГ КАК ЭЛЕМЕНТ АНТИКРИЗИСНОГО УПРАВЛЕНИЯ

In an unstable economic environment, businesses are faced with the need to adapt to constantly changing market conditions. Crisis management as one of the key tools for business survival and development requires an integrated approach and attention to many aspects of the company’s activities. Among them, marketing acts not just as a way to promote goods or services, but as a strategic element that can ensure the enterprise’s sustainability and development even in times of crisis. This article examines how exactly marketing can become a key element of crisis management of an enterprise, what the role and strategies of marketing are, the analysis and forecast of the market situation is studied, as well as marketing tools that will help deal with unfavorable situations, and innovative approaches that help cope with competition in conditions of crisis.

Exploring the impact of crowdfunding and collaborations on firm survival through crisis management in the context of Pakistan

ABSTRACT The survival of small and medium-sized businesses (SMEs) depends on their adaptability and ability to successfully manage challenging circumstances in today's fast-paced business environment. Taking a Resource-Based Theory perspective, this study intends to analyse the relationship between Cross-Industry Strategic Collaborations and Crowdfunding as Firm Survival Drivers. This study also investigates how these elements interact through the mediating mechanism of Strategic Agility, as well as the moderating influence of Government Support in recent Pakistani crises. Primary data were acquired from 277 respondents working in SMEs in Pakistan's major cities, and hypotheses were tested with Smart PLS. The findings emphasise the significant roles that cross-industry collaborations and crowdsourcing play in determining SME survival during difficult times and emphasise their tangible contributions. The study also highlights the importance of strategic agility as a key mediator between strategic collaborations, crowdsourcing and firm survival. Furthermore, the inclusion of government support as a moderator enhances the link between strategic agility and firm survival, highlighting the significant function of institutional support. These results highlight the value of institutional support and strategic agility in enabling fruitful collaborations and crowdfunding activities to ensure SME survival and offer valuable insights on the resilience of SMEs.

Emerging Trends in Contemporary Accounting - A Comprehensive Study

In the contemporary landscape of the corporate realm, the indispensability of accounting and its corresponding professionals cannot be overstated. The maintenance of accurate books of accounts is an essential requirement for every business entity, as it serves multiple crucial purposes. Firstly, it enables businesses to assess their profitability and effectiveness, providing them with valuable insights into their financial performance. This information is vital for making informed decisions and implementing strategies that can enhance the overall efficiency and success of the organization. Furthermore, accurate bookkeeping plays a pivotal role in ensuring the survival and sustainability of businesses in the highly competitive contemporary market. By meticulously recording and organising financial transactions, businesses can gain a comprehensive understanding of their financial position, enabling them to identify potential areas of improvement and address any existing shortcomings. This proactive approach allows businesses to adapt to changing market dynamics, optimise their operations, and maintain a competitive edge. Moreover, accurate bookkeeping facilitates compliance with legal and regulatory requirements imposed by relevant authorities. By maintaining meticulous records of financial transactions, businesses can demonstrate transparency and accountability, mitigating the risk of legal disputes and penalties. This adherence to legal obligations not only safeguards the business's reputation but also fosters trust and confidence among stakeholders, including investors, creditors, and customers. In conclusion, the imperative for businesses to maintain accurate books of accounts cannot be overstated.

A comparative study of governmental financial support and resilience of self-employed people in Sweden and Canada during the COVID-19 pandemic

ABSTRACT Globally, self-employed people were among the hardest hit by the repercussions of the COVID-19 pandemic and faced hardships such as financial decline, restrictions, and business closures. A plethora of financial support measures were rolled out worldwide to support them, but there is a lack of research looking at the effect of the policy measures on self-employed people. To understand how different governmental financial support measures enhanced the resilience of the self-employed and improved their ability to manage the pandemic, we conducted a mixed-method study using policy analysis and semi-structured interviews. The documents described policies addressing governmental financial support in Sweden and Canada during the pandemic, and the interviews were conducted with Swedish and Canadian self-employed people to explore how they experienced the support measures in relation to their resilience. The key results were that self-employed people in both countries who were unable to telework were less resilient during the pandemic due to financial problems, restrictions, and lockdowns. The interviews revealed that many self-employed people in hard-hit industries were dissatisfied with the support measures and found them to be unfairly distributed. In addition, the self-employed people experiencing difficulties running their businesses reported reduced well-being, negatively affecting their business survival.

Secured and Sustainable Supply Chain Management Using Key Escrow Encryption Technique in Blockchain Mechanism

INTRODUCTION: Supply chain management is the management process of the flow of goods, and services related to financial functionalities, procurement of raw materials delivery to the final destination. OBJECTIVES: Since the traditional supply chain process lacks data visibility, trustworthiness, and distributed ledger, the need for the blockchain mechanism to ensure the time-stamped transactions to provide a secured supply chain process has been introduced and integrated. METHODS: The distributed nature of the blockchain helps in organizing the supply chain and engaging the customers with real, verifiable, and immutable data. Blockchain technology enables these transactions to be tracked in a very secure and transparent manner. In this paper, we, therefore, propose a framework that utilizes blockchain and key Escrow encryption systems to optimize the security of supply chains to improve services for global business survivability. RESULTS: The comparative analysis with the existing benchmarking techniques with respect to the key size, key generation time, and key distribution time was carried out with the proposed model and found that proposed work provides better results. CONCLUSION: This proposed system can track the authenticity of the product and details about the manufacturer of that particular product. Thus, the paper concludes the proposed work enhances data’s integrity, traceability, and availability and single-point failure can be resolved or reduced using blockchain mechanism.

Militating Challenges in Establishing Small Scale Business in Cross River State

In the quest for Cross River State economic development, there has been a rise in the registrations of various small-scale business ventures. The organizational structure of small-scale businesses in the state is influenced by environmental factors which are political, technological, social, and economic. On this note, this study was geared towards finding out the challenges in establishing small businesses in the state. The purpose was centered on the survival and performance rate of small-scale businesses. It also examined the effect of business information on new entrants into small-scale businesses. The study was limited to only four (4) selected lines of business namely: fish farming, poultry farming, snail farming, and grass cutter farm business. The most important deduction from the study was the desire of the would–be Businessmen to be self-employed. The study also revealed that new applicants started their businesses without any feasibility study or business information

Effects of Parcel Delivery Service on Customer Satisfaction in the Saudi Arabian Logistics Industry: Does the National Culture Make a Difference?

Background: The logistics industry is keen to meet customer expectations, which in turn supports trade by enhancing business competitiveness and promoting economic development. Logistics companies realized that fulfillment of customer needs has a significant effect on their business survival, their sales and ultimately their profits. This research analyzes the variables that influence customer satisfaction with parcel delivery services in the Kingdom of Saudi Arabia (KSA), particularly the SERVQUAL dimensions: tangibility, reliability, responsiveness, assurance, and empathy. The research also examined whether national culture affects customer perceptions of parcel delivery services in KSA or not. Methods: The research collected data using a self-administered survey, which was directed at a sample of customers in the KSA, who had recent experience with parcel delivery services. Results: The results of statistical analysis showed that the best predicators of customer satisfaction are reliability, followed by the dimensions of empathy, then tangibility and finally responsiveness. In addition, the results showed significant differences in customers’ overall satisfaction between Saudis and non-Saudis. Saudis were more satisfied with the service than non-Saudis were. Conclusions: This research showed the key role of national culture in perceiving parcel delivery service quality in KSA. The findings provide important messages to the administrators of the logistics services in KSA, which have become crucial for the Saudi Vision 2030. They need to customize their service according to customer needs and provide regular training for their staff to be supportive, reliable and have the credibility to deliver services as promised.