Small Business Management Research Articles

Identify The Big Five Personality Traits to Escalate Business Motivation In Food Technology Industry

The overall purpose of this research refers to the real case in Chixar's business which points out that the instability of motivation in doing business is an aspect that has also become a concern for internal business members, given the business conditions that had experienced pivoting before and the necessity to pursue sales targets that are quite high in the business. new to pivoting, internal business has a strong desire to improve business performance but it is necessary to support it with analysis of personality traits and motivation factors for Chixar business members as the main basis. Regarding small business aspects, the implementation of human resources management is not implemented properly considering that small businesses have fewer employees so they are not a main concern to be considered in internal business, but small businesses are often focused on the orientation of sales and business operations. Therefore, the author focuses on the scope of research in the application of human resources management in small business which includes aspects of personality traits and motivating factors for doing business. Personality traits are aspects that are owned by each individual and affect individual behavior based on personal desires towards an achievement or expected goals, personality is an absolute and stable aspect and variable possessed by individuals who are associated with working behavior, motivation and goal-orientation. The author uses the Big Five Personality Traits framework to identify and analyze the types of personality traits and factors that underlie Chixar business members. Self Determination theory as the framework basis of the motivation factor is divided into two, namely intrinsic motivation and extrinsic motivation, both motivation factors are analyzed in depth on several sub-variables. Overall, the data analysis process was carried out using qualitative data methods with data collection processing stages which included individual assessment, in-depth interviews and focus group discussions. The results of data analysis show that there are differences in personality traits owned by Chixar business members and differences in extrinsic motivation factors despite the similarities that form intrinsic motivation. The results of the strongest and most implementable personality traits are Openness personality traits, the strongest intrinsic motivation factor is Relatedness factor and the strongest extrinsic motivation factor is Integrated Regulation. Regarding the findings, the author tries to recommend solution that it is necessary to implement a performance management system as the main implementation base for small businesses which includes establishing development objectives, communicating effectively, motivating employees, document performance, feedback, diagnosing performance problems and developing employees.

Trust, Reputation and the Small Firm: Building Online Brand Reputation for SMEs

Social media provides numerous opportunities for small businesses to promote their products and services, build brand communities and reach diverse market niches. An important factor in seizing these opportunities is developing trust and creating reputation among consumers. This qualitative study examines how a group of Australian small business managers utilize social media websites to connect to, communicate with and maintain their customer base. For the purpose of this paper we are using case studies of four companies physically based in Victoria, Australia. These businesses have a high presence in online consumer groups, being both active members of communities and representatives of their businesses. The duality of their role as participant and company representative imposes difficulties in creating reputation among community members. We have used in-depth interviews as a primary research method, additionally monitoring their activities on social media sites such as forums, social networking services, blogs and micro-blogs. We have identified practices helpful for developing trust, building reputation and create a brand image in online communities.

“The disability becomes secondary”: The use of mobile devices by small business managers with a disability in Australia

This article summarises an original qualitative research investigation into the use of mobile devices by small business people with a disability in Australia. It uses the limited available published literature, social inclusion theories, and data from interviews with five small business people about their use of mobile devices, especially phones, and the experiences of five key informants. This project found no prior research that deals with the topic. Most businesses managed by people with a disability are home-based. By merging theories with praxis we show that they adapt mainstream apps to their own special needs. They improve their independence, expand their networks, and maximise opportunities for unique business uses.

PENYULUHAN DAN PEMBERIAN MATERI DAN DEMO / PRAKTEK PELATIHAN SALON KECANTIKAN KHUSUS MAKE UP WAJAH SEDERHANA DENGAN KONSENTRASI PADA PENGELOLAAN SUMBER DAYA MANUSIA

Implementation of Community Service is one of the applications of the Tri Dharma of Higher Education which in its implementation makes a positive contribution tosociety. The implementation of this PKM takes the title “Penyuluhan dan pemberian materi dan demo / praktek pelatihan salon kecantikan khusus make up sederhana dengan konsentrasi pada pengelolaan Sumber Daya Manusia“. The location chosen was an orphanage located in the Ciater Serpong area, South Tangeerang City. Where this location has small businesses that still require better human resource management. The method used in the implementation of this PKM is a workshop or training. Where previously the direct observation stage was carried out to find out the problem. That appears at the research location. This training is used to provide an in-depth understanding of human resource management, especially human resource management in small businesses that have been initiated, it is intended that the Orphanage Al-Amien, who consists of caregivers and children, can understand and implement human resource management quite well. In addition to the training on human resource management, on this occasion an explanation was also given about the basics of entrepreneurship and Her specialty salon business is simple makeup. The results of Community Service went very smoothly and all participants who attended were sure to get a pretty good understanding of the material. On At the end of the training session the participants were also given simple practices to support the ability to implement human resource management in small businesses that are already running at the Al-Amien Ciater Orphanage. As a refinement and ensure the ability of participants In applying the material optimally, there will be periodic evaluation stages from a team of lecturers and PKM teaching practitioners.

Building business resilience to external shocks: Conceptualising the role of social networks to small tourism & hospitality businesses

Micro and small enterprises comprise the majority of the tourism and hospitality businesses globally and contribute heavily to the economic livelihood of many communities. However, their distinctive characteristics also make them among the most vulnerable to the impacts of external shocks. This paper proposes a conceptual model of how social networks may help micro-small tourism and hospitality businesses build resilience to disasters and crises. Informed by concepts of social capital theory, business continuity goals, and the resource-based view, we argue that social networks are a crucial factor in assisting the survival and recovery of micro-small tourism and hospitality businesses after external shocks through the provision of greater access to a multitude of resources (natural, physical, financial, human, social). Drawing on relevant literature on tourism disaster and crisis management as well as small business management and social network research, we develop a series of propositions and an agenda for future studies. In doing so, this paper contributes to currently limited theoretical work in the tourism disaster and crisis management literature while encouraging greater research attention to micro-small tourism and hospitality businesses as a means of helping to foster more resilient businesses in the face of possible future shocks.

The influence of social media on stakeholder engagement and the corporate social responsibility of small businesses

AbstractIn recent decades, the concepts of corporate social responsibility (CSR) and social media have gained immense importance among businesses and their stakeholders. These concepts have gained popularity and acceptance among both large and small businesses of most industries. However, the existing CSR literature showed that most studies concentrated on large businesses, leaving the domain of small businesses under‐explored. The literature review revealed that only a few researchers had investigated the influence of social media on stakeholder engagement and the CSR of small businesses. This research aimed to explore the impacts of social media on the CSR of small businesses and used a concurrent mixed‐method research design, employing survey questionnaires from 82 participants and semi‐structured interviews with eight participants. The study conducted among the owners and managers of small businesses in a local government district in New Zealand discovered that many of them considered social media beneficial to engage with stakeholders and understand CSR trends. It also found that social media encouraged businesses to understand their vision, values and implement policies that are environmentally friendly and beneficial to the employees.

Nikitina Strategic Management of Sustainable Development of Small Business Enterprises

Introduction. The globalization of the economy and the introduction of the concept of sustainable development largely determine the development strategy of both large and small businesses. Adherence to the principles of sustainable development is becoming a prerequisite for organizations to develop, increase competitiveness and attractiveness for stakeholders. The purpose of the study is to elaborate the stages of formation of strategic management of sustainable development of small business enterprises. Materials and Methods. An analysis of the financial, economic, environmental and social components of sustainability of JSC Leader-Compound was performed as a case study. The company's financial statements for 2012–2019 as well as the results of the survey conducted among the management staff were used as the materials for the study. The expert method was employed to determine the final assessment of compliance of JSC Leader-Compound with the features of strategic management of sustainable development of small and medium-sized enterprises. The employed method of strategic analysis (SWOT analysis) made it possible to identify the strengths and weaknesses of the company, as well as threats and opportunities. Results. The results of a comprehensive analysis of the components of sustainable development of JSC Leader-Compound made it possible to conduct a final assessment of the compliance of this enterprise with the features of strategic management of small and medium-sized businesses. A sufficiently high level of development of the strategic management of JSC Leader-Compound has been noted, and reserves for its improvement have been determined. An algorithm for the process of development and implementation of a strategy for sustainable development of the company has been proposed. Methodological recommendations have been substantiated for each stage of the process. To calculate the generalized integral indicator of the level of sustainable development, a mathematical model has been proposed that takes into account the components of sustainable development of the company. Discussion and Conclusion. The proposed process of development and implementation of a strategy for sustainable development of a small business will make it possible not only to form a strategy based on the components of sustainable development, but also to ensure the possibility of its successful implementation. The research results may contribute to both practical activities of other small businesses, and further scientific research of the features of managing the sustainable development of small enterprises in other lines of business.

Stakeholders' impact on the leadership potential of small and medium-sized construction enterprises

PurposeThis study aimed to develop a methodological approach to assessing the impact of stakeholders on leadership potential of small and medium-sized construction enterprises.Design/methodology/approachThe research methodology was based on taxonomic analysis to determine the coefficient of leadership potential in the following areas: financial growth of an enterprise, internal processes, human resources development and market potential. The examination process was grounded on the materials from small and medium-sized construction companies located in Russia and China.FindingsSubgroups of companies with positive dynamics of indicators, an unstable situation and negative trends of leadership potential formation are identified. Russian small and medium-sized construction companies prioritize the development of sales policies and the management of internal business processes, while Chinese companies–human potential. The generated regression equations indicate a direct relationship between stakeholder engagement and the leadership potential of construction companies in both countries.Originality/valueThe scientific contribution of this study is the proposed methodological approach to assessing the development of the leadership potential of an enterprise and diagnosing the degree of stakeholders' influence on the latter. This is facilitated by comprehensive analysis, which includes an assessment of leadership potential based on the results of taxonomic analysis, construction of vector diagrams and regression analysis. This study can be useful for persons conducting research in the direction of small and medium-sized business management, forming a strategy for business development and competition policy to form a company's leadership position in the market.

STATE FINANCIAL SUPPORT FOR SMALL BUSINESS DURING THE CORONAVIRUS CRISIS IN EUROPEAN COUNTRIES

Abstract. The aim of the conducted research is elaboration of conceptual statements and formulation of practical recommendations aimed at development of the methodological bases of state financial support for small business. On the basis of the existing theoretical statements, discovery of essential characteristics, peculiarities and systematisation of the obtained results of the research, conceptual approaches to interpretation of the features of state financial support for small business during the coronavirus crisis have been suggested. Small business is an important component of the economic system of any country. It ensures formation of the complex structure of the market for goods and services, development of efficient competition and promotes addressing the needs of consumers in conditions of formation of their sovereignty. State financial support for small business in European countries is at different stages of development. In the EU countries, financial policy of small business regulation is an example of state intervention in the mechanism of market self-regulation in order to solve social and economic problems by changing the economic behaviorur of small enterprises. The formational process, strategic priorities of state financial support for small business in European countries and macroeconomic instruments for its implementation during the coronavirus crisis have been studied. Changes in the concern of the world community in forms of state financial support for small business have been detected. A comparative and analytical examination of the instruments for macroeconomic financial regulation, which are being used during the COVID-19 pandemic in Europe, has been conducted. The research shows the importance of small business in terms of solving economic and social problems of social development, outlines the situation of state financial support in the EU countries in comparison with Ukrainian small enterprises, determines the general features and differences in state regulation of entrepreneurship. The practical significance of the obtained results consists in the fact that the main scientific statements of the article can be used in practice of state and regional management of small business. Keywords: small business, state regulation, financial support, financial policy, coronavirus crisis. JEL Classification H12, D21, E61 Formulas: 0; fig.: 2; tabl.: 1; bibl.: 12.

Pengelolaan Usaha Mikro Berbasis Kelompok Perempuan Desa Ngemplak II Yogyakarta

The phenomenon of ever-increasing needs, such as the need for goods and services in household life, requires that people seek alternative income by producing processed food. However, to increase the processed food business, it does not only focus on the product aspect, but must also pay attention to marketing management and financial aspects so that this becomes the concern of the women's group of Ngemplak II village Umbulmartani Ngemplak Sleman Yogyakarta. The purpose of this Community Service is to provide training to women's groups to increase their understanding and ability to produce and develop processed food and use accounting to support the progress of their business. This activity provides an understanding of how to calculate product costs and prices (cost accounting), and accounting (financial aspect). In addition, the women's group was given training from marketing management aspect that how to make brands and register their product brands to the Directorate General of Intellectual Property Rights. Based on the results of the implementation of Community Service activities related to providing management training and financial empowerment programs for women in productive food management, there is enthusiasm from women's groups in Ngemplak II village Umbulmartani Ngemplak Sleman Yogyakarta. This Community Service Activity have been an impact on increasing knowledge in the field of small business management, especially in the field of trademarks and determining the price and break-even point. In addition, it also has an impact on knowledge about small business financial management, especially in the field of simple financial statement and profit and loss calculations, and also pricing.

Firm Level Strategy and Value Creation in Small Businesses: The Nigerian Experience

The issue of firm specific strategies and how they affect organizational performance has engendered a lot of discussions in the extant literature. This creates a need to investigate the extent to which firm level strategy influences value creation in small businesses. Premised on the elements of corporate, business and functional level strategies, this study examines the influence of firm strategy on value creation in a developing economy ie. Nigeria. Employing a survey research design, 689 small business owners and managers were surveyed utilizing questionnaire research instruments. Using PLS-SEM, the study reveals that firm strategy is a driver of value creation in small businesses. The study also shows that corporate level strategy and business level strategy are the most significant drivers of value creation. The results of this study highlight critical concerns and guide small businesses through the value creation process to achieve competitiveness. Small firms should be active in the formulation and implementation of strategies that are based on value creation. More attention should be given to business level strategy, as this is the most significant driver of value creation.

Small business under the COVID-19 crisis: Expected short- and medium-run effects of anti-contagion and economic policies

This study makes a causal inference on the effects of anti-contagion and economic policies on small business by conducting a survey on Japanese small business managers’ expectations about the pandemic, policies, and firm performance. We first find the business suspension request decreased targeted firms’ sales by 10 percentage points on top of the baseline 9 percentage points decline due to COVID-19, even though the Japanese anti-contagion policy was in a form of the government’s request that is not legally enforceable. Second, using a discontinuity in the eligibility criteria, we find lump-sum and prompt subsidies improved firms’ prospects of survival by 19 percentage points. Third, the medium-run recovery of firms’ performance is expected to depend crucially on when infections would end, indicating that the anti-contagion policies could complement longer-run economic goals.

Do Performance Goals and Development, Feedback and Recognition, and a Climate of Trust Improve Employee Engagement in Small Businesses in the United States?

Small businesses are the predominant contributors to the U.S. economy, yet they face many challenges to remain competitive and sustainable. There are several reasons a small business could fail, including a lack of human resources, limited financial resources, competition, technological advancements, disaster, and globalization. Improving employee performance by getting them engaged and productive in their work is an issue that cannot be overlooked for small businesses to function and remain competitive. There is limited empirical evidence that explains the dimensions of performance management and employee engagement in small businesses. However, how small businesses sustain their long-term performance remains uncertain. This study sought to bring together two previously distinct constructs: overall employee engagement and overall performance management, characterized by performance goals and development, a climate of trust, and feedback and recognition. The research was correlational in nature. A survey was conducted to generate and analyze data gathered from 121 employees of small businesses located in the United States. A series of Pearson correlation analyses confirmed the existence of statistically significant positive relationships between employee engagement and each variable of performance management, namely performance goals and development, feedback and recognition, and climate of trust. Notwithstanding these positive correlations, a multiple regression model with the three performance management variables as independent variables and employee engagement as the dependent variable suggested that there was a statistically significant regression model F(3, 117) = 32.34, p < .001, R2 = .453, explaining 45.3% of the variability in employee engagement. Nonetheless, this model confirmed that the variables performance goals and development and climate of trust were not statistically significant in the model (p > .05). In other words, only the feedback and recognition variable was statistically significant in the regression model, suggesting that it explained most of the variability in engagement, including that already explained by the other two variables. Overall, the outcome of this study suggests that small businesses implementing performance management processes have more engaged employees. The conclusions drawn from these findings suggest that overall performance management and overall employee engagement contribute to small business productivity and organizational success.

Factors influencing flood disaster preparedness initiatives among small and medium enterprises located at flood-prone area

This paper highlights the factors affecting SMEs flood disaster preparedness located in Segamat District of Malaysia. An interviewer-assisted survey using a set of flood disaster preparedness questionnaire (developed and validated by a team of disaster management experts from various background) were implemented among Small and Medium Enterprises (SMEs) business owners and managers (n = 253). The analysis of regression provided insights into the various factors affecting the contribution of small and medium-sized businesses towards flood preparedness activities. Findings demonstrated that risk perception is the most consistent factors in influencing preparedness actions. Besides that, previous experiences on floods, retails sectors and male ownership also contributed to a high level of flood disaster preparedness engagement. This research gave insight at why small and medium-sized businesses are involved in disaster preparedness activities which includes discussion from a review of previous findings.

Da academia ao happy hour: O caso da OurSound

Objective of the study: To portray the value added of the OurSound application to the gym, bars and restaurants sectors, and the challenges faced by the need to expand sales by the owner partners. Methodology/approach: Teaching cade based on real facts, according to management experience of micro and small business. Originality/relevance: The teaching case portrays the activities of the company OurSound, whose differential is that it is a musical interaction application, offered by the owners of their establishments to their customers. Main results: The reflections, learning and possible strategies suggested by students to meet the desire to create value and increase sales (with the consequent expansion of associated establishments, interaction, sociability and engagement between users) of the application studied or similar. Theoretical/methodological contributions: Offering students experience in situations related to the management of micro and small businesses, so that they have the opportunity, being supposedly in the partners’ shoes, to discuss the dilemma presented and seek alternatives to solve it.

Export Performance of SMEs in Emerging Markets: The Role of Market Orientation, Learning and Trust

"Research Aims: This study investigates the mediating role of trust in explaining the effect of learning orientation and market orientation on the export performance of small and medium enterprise (SME) exporters in emerging markets. Design/methodology/approach: Survey data from 193 Malaysian SME exporters were used to test a series of hypothesised relationships. The sample was derived from the directory of the Federation of Malaysian Manufacturers, which consists of Malaysian wholly owned cross-industry manufacturing SMEs with 10-200 full-time employees. The instrument was developed using existing scales, and the research model was estimated using partial least square structural equation modelling. Research Findings: The findings reveal that trust is directly related to export performance. Learning creates dynamism in firms' processes and enables the utilisation of information in a way that allows firms to respond to the variability of customers' needs. Theoretical Contribution/Originality: This study contributes to theoretical development by highlighting the role of learning in the relationship between market orientation and trust between SME exporters and foreign importers. Managerial Implications in the Southeast Asian Context: Managers of small businesses in Southeast Asia should not be disconcerted by the smallness and limited resources of their firms. In an environment characterised by rapid market changes, SMEs must rely on dynamic capabilities to develop their competencies and leverage foreign partner resources. Research Limitations & Implications: First, the responses were mainly obtained from exporters. This is in contrast to a dyadic relationship, which concerns interactions between partners: exporters and importers. Second, this study is limited by its context, which is the manufacturing sector."

IMPROVEMENT OF FINANCIAL MANAGEMENT MECHANISMS FOR SMALL BUSINESSES IN UKRAINE

The article is devoted to solving the problems of finding ways to improve the mechanisms of financial management of small businesses in Ukraine. It is revealed that solving financial problems is the main direction of successful functioning of small enterprises in Ukraine, which consists in implementing a set of measures to bring a small enterprise in line with the chosen strategy of its financial and economic development. The characteristic features of managing the financial resources of small businesses that characterize them among other legal entities and individuals operating in Ukraine are highlighted, and it is concluded that all these features are somehow inherent in small businesses in Ukraine and should be taken into account when improving the mechanisms of their financial management. The author's classification of sources of formation of financial resources of a small enterprise is proposed, taking into account the peculiarities of their functioning. It is proved that attracting sources of financing at small enterprises has a single strategic goal, namely: the development of their financial potential to ensure sustainable functioning in the crisis conditions of Ukraine. The tasks of forming the financial potential of a small business entity are systematized, which are integrated for the effective implementation of the main goal in its key aspects. It is found out that the implementation of tasks in the system of strategic financial management is carried out through reasonable management of financial flows between a small business entity and internal and external sources that arise during operational activities. A sequence of stages of the process of developing a strategy for forming the financial potential of a corporation based on special principles is formed. It is concluded that the effective implementation of the strategy for forming the financial potential of a small business entity at these stages will ensure their well-established financial and economic growth in the crisis conditions of Ukraine.

Logistics management of small cut-flower businesses: a brief overview of retail trade on the coast of Paraná – Brazil

Given the perishability of cut flowers, logistics plays an important role in keeping the quality of the product in terms of the time the crop travels from harvest to delivery to the final consumer. The trade of this type of flower is common on the coast of Paraná, but there are no studies that show the importance of logistics in the competitiveness of the regional production chain. In order to identify the main obstacles in the logistics process on the coast of Paraná, we carried out descriptive exploratory research with ten florists managers. The most commercialized cut flowers were roses, orchids, heliconias, lilies, sunflowers, tulips, and baby’s breath, being the rose the most commercialized one. All of the respondents in our research reported that the main decision factor in the type of logistics adopted was the delivery system at the store door. This logistic system, however, did not always allow buying quality flowers that could meet customer demands. Apparently, the collective purchases registered by groups of 3 to 5 retailers may guarantee faster purchases, lower cost and higher quality of flower, as well as higher competitivity to the regional retail market of cut flowers.

What do they think and feel about growth? Examining small business managers’ attitudes towards growth in the United States

We replicate the Wiklund et al. (2003) study examining the attitudes towards growth of small business managers. We generalize and extend that study in three important ways: we focus on a different context (United States instead of Sweden), where the conditions and consequences for growth are different, we provide an additional predictor variable – behavioral control – in line with Ajzen’s theory of planned behavior, and with a slightly modified dependent variable. The principal finding is that the strongest perceived consequence affecting attitudes towards growth among U.S.-based small business managers is the ability to increase income and other financial benefits. Change in employee well-being and change in dependence on outside stakeholders also ranked relatively high among eight potential growth consequences. The Wiklund et al. (2003) Swedish study finds, in contrast, that non-economic consequences are the strongest predictor of attitudes towards growth. We attribute these attitudinal differences to variations in institutional context, suggesting that policy and cultural norms are likely to underlie growth motivation. We also find that U.S.-based small business managers are likely to be influenced by the perception that growth is a “realistic” endeavor.

Forecasting in Small Business Management

This work aims to verify an authorial forecasting method from a system of interdependent equations, which is based on empirical equations of the structural form and is mainly intended for econometric micromodels. The prediction procedure will be analogous to the so-called chain prediction that is used for recursive models. The difference—compared with the prediction from a recursive model—entails the necessity of using one of the reduced-form empirical equations to begin the procedure of constructing a sequence of forecasts from successive structural-form empirical equations. The research results presented above indicate that the above-proposed iterative forecasting method from structural-form equations of a system of interdependent equations guarantees synchronization of forecasts as part of a closed cycle of relations. A different number of iterations is required to obtain convergent forecasts. It can be noticed that the further ahead the forecasted period is, the more iterations should be carried out to obtain convergent forecasts. Small business management with the use of forecasting can be done remotely. Rapid updates of statistical information will require cloud-based communication. Completion of data in a cloud will allow, on one hand, accurate assessment of expired forecasts and, on the other, to update the predictor equations. This can be carried out at any place with Internet access.