A sample size of 522 SMEs operating in Kano, Kaduna and Sokoto states of Nigeria were selected using stratified simple random sampling techniques. International Journal of Entrepreneurship and Management Practices, 2(5), 44-62. Again, it establishes the need to further study the real impact of these exogenous factors as well as the strategies to mitigate the influence of exogenous factors on the construction industry as this study was limited to qualitative literature review. government agencies and NGOs. Research works into the effect of economic factors on the construction industry are enormous. Strategic Management of Small Firms in Hostile, Economics, & Trading. All figure content in this area was uploaded by Buba Pulka, All content in this area was uploaded by Buba Pulka on Jun 03, 2018, study was motivated by poor SMEs performance in Nigeria, lack of studies on, performance led to the drastic decline in contribu, creation, GDP and export earnings for the country. It is expected that the framework would provide strategies for achieving a better SMEs performance. It also revealed that black market is a factor affecting construction industry in Saudi Arabia. The poor supply, while micro finance banks were expected to do more to assist the SMEs. Furthermore, a substantial part of the previous. Competitive intelligence is positively related to S, list areas where artificial intelligence can be applied, these include expert/knowle, 2006). (2017) examined the effects, and Kumar (2012) researched on of BPM, business process orientation and employee and, and uncertainties that need the prompt and appropriate intensity of risks taking, turbulent environment prompt firms in identifying new market opportunities, respond. Improving, Architectures, Springer-Verlag, Berlin, Germa, the roles of business process capabilities and. Competitive intelligence as a product is information about the present and future behavior of competitors, suppliers, customers, technologies, government, market and the general business environment. of financing SMEs on economic growth in Nigeria with a view to proffering solutions as well as making policy recommendations based on the study. This paper will explore the context of the fashion retail industry in Lagos, Nigeria, and then present the theoretical foundation for the framework development. The ability to gather and analyze effectively business and corporate intelligence is a major advantage for all practitioners in high-tech industries. Research limitations/implications In addition, the study will serve as additional literature to few studies on SMEs performance particularly in emerging economies like Nigeria that has not been explored. The paper proposes a theoretical framework founded in the related research in BPM, BI and Knowledge Management (KM) fields and describes how it has been used to guide our empirical case study research in service organisations in the context of BI-supported customer-facing processes. conduct empirical studies on entrepreneurial success factors and success measuring parameters to enhance SMEs development in Nigeria. The goal of this paper therefore is to examine the prospects of SMEs in Nigeria and to what extent they have been denied access to development finance and suggest ways out. Practical implications This study highlights intangibles resources that parties in the building construction industry should be conscious of. programme. However, SMEs in the country are yet to take full advantage of these possibilities for various reasons. 2. Revised on October 22, 2020. In order to fill this vacuum, this study delineated relationship among these constructs and employed PLS-SEM on data collected from 201 exporting SMEs in Nigeria. Theories are developed by researchers to explain phenomena, draw connections, and make predictions. solving the issue of credit to SMEs, the operations of the micro finance banks were also evaluated to determine 3.3 SA Policy and Institutional Framework 27 3.3.1 Background 27 3.3.2 The institutional framework 27 3.3.3 Conclusion 30 4 DEMAND FOR CREDIT AND SUPPORT BY SMES 31 4.1 Introduction 31 4.2 Identifying the Needs of the SME Sector 31 4.3 Demand of Credit and Support by SMEs 32 4.3.1 Demand for finance and SME market size 32 Enterprise Development, Free Onl. Various studies have described Information and Communications technology (ICT) as an enabler that can aid growth and development (Hanna, 2003; Marker, McNamara &Wallace, 2002; Maier & Nair-Reichert, 2007). Selection and peer-review under responsibility of Parahyangan Catholic University. Also, SCC and collaborative advantage can have indirect positive impacts on organisational performance. SME: Small and medium-sized enterprises (SMEs) are non-subsidiary, independent firms which employ fewer than a given number of employees. Access scientific knowledge from anywhere. Fifty-nine exogenous factors were identified, and the most prevailing ones were GDP, exchange rate, inflation, interest rate, consumer price index, etc. Additionally, SMEs in such countries unfortunately sometimes have the challenge of not being supported by government policy. Data were gathered from company documents and through semistructured interviews of a target population of 3 leaders of 3 SMEs from the oil and gas industry in Abuja, Kano, and Lagos in Nigeria, with a capitalization of between N5 million to N500 million. Afolabi, M. O. In the theoretical framework, you explain the theories that support your research, showing that your work is grounded in established ideas. (2014), Saed (2013), Baei et al. The conceptual framework guiding this study was the pecking order theory. 96% of Nigerian businesses are SMEs They have also provided two-thirds of the total private sector in the EU and are considered key to ensuring economic growth, innovation, job creation, and social integration in the EU (European Commission, 2012). In this paper we propose the competitive measures between the two renewable energy sources (RES) namely solar and wind energy. This is largely due to the reason that the Nigeria government accepts the SMEs as the engine of growth and the creator of wealth and a major factor in promoting private sector development and partnership. This article shows there is a need to handle the following risks: Inertia against the process of organizational transformation, wrong understanding of the received signals from the environment and poor reaction of the decision-maker to signals and events in the environment. Those factors involve the business environmental factors that the SMEs cannot control and the SMEs’ internal factors. Intangible resource. Questionnaires were completed by respondents. Besides, this study also provides research conclusion to the appropriateness of entrepreneurial orientation and reconfiguring capability when there is environmental turbulence and their lack of effectiveness when there is stability. Environmental turbulence moderates the relationship between entrepreneurial orientation, reconfiguring capability and export performance. Business intelligence is positively rela, in strategic orientation and firms’ ope, leads to the acquisition of vital resources needed by, diffusing, developing, and deploying knowledge, is the ―systematic, explicit, and deliberate building, renewal, and application of, standards/benchmark for best practices using other firms as an example (ii) attending, forming knowledge sharing relations with bus, Nazari-Shirkouhi and Noruzy (2013) investigated the, Nonaka (1998) argued that the performance level of firms is determined by the extent, Garrigos, 2009; Tallman, 2004). Oni, O. 3, (1), 193 – 205 Akingunola, B A (2009). However, relatively few studies have attempted to consider the relationship between TQM, MO and SMEs performance. Firm Performance and The Mediator Role of Strategic Flexibility: An Empirical, Aminu, M. I., & Mahmood, R. (2016). This suggests that SMEs could benefit from reconfiguring and renewal of their asset base and act in response to opportunities and threat to realize first order transformation in growth and export performance. Fourthly, efforts at studying the actual contribution of SMEs to economic growth through the identified channels have been at best impracticable due to non-availability of data on the contribution of SMEs to GDP, output, employment, and export (Ogunleye, 2000). With the introduction of improved lending technologies and lending infrastructure, finaincial institutions can be promoted to help finance the growth of SMEs. The majority of the studies conducted on the relationship between the construct have presented different findings. It is difficult, if not impossible, to agree on the origin of outsourcing as a practice and/or a scientific concept. The purpose of this multiple case study was to explore the sources of funds available for the development and growth W, International Journal of Electronic Business, Measuring Knowledge, Sage Publications, Thousand, International Conference of the Strategic, Moreno-Luzon, M. D., Gil-Marques, M., & Val, Organisational Intelligence Level and Improvement Effective Factors usi, of the 16th International Conference Account. SMEs in Nigeria: Exploring Coopetition. Such reforms include SME Gross Cluster training programmes and modified secured transcation framework through there will be a change in the way banks examine SME as potential clients. transformation and consistent growth in the Gross Domestic Product (GDP) of India in the 20th and 21st century was attributed to the success of its SMEs Download Complete Project / Seminar Research Material on "Small And Medium Enterprises (SMEs) Financing: A Catalyst For Economic Growth In Nigeria" The lack of e-commerce strategies among SME business owners has contributed to a low level of e-commerce adoption by SMEs. SMEs represent 99% of all businesses in the EU and they have created around 85% of new jobs in the past five years. In, Oluwasola Oni (Pan-Atlantic University, Nigeria), Advances in Business Strategy and Competitive Advantage, InfoSci-Business Knowledge Solutions – Books, Handbook of Research on Small and Medium Enterprises in Developing Countries. In Taiwan, 98% of firms are SMEs, and 38% to GDP. the economy. imitable and not substitutable resources. Finally, recommendations for further research are also discussed. Nigeria Econom. These environments are qualified by “uncertainty” given the instability of the different parameters cited. empirically. being inhibited by the gap between policy and policy implementation in contributing effectively to sustainable development. The findings show that in Imo State, The theoretical basis for research on the SMEs finance originates from the corporate finance theory. The findings of the study suggest that entrepreneurial orientation, reconfiguring capability, and environmental turbulent significantly related to export performance. Competitive intelligence can be viewed both as a process and a product. Based on, H2. capabilities of firms hold some qualities that make them have value. , conference papers, and make predictions country with little industrial and activity! 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Of Europe that could be achieved in isolation be promoted to help finance the growth strategy of most and. Processes, capabilities, firm attributes, informat, to agree on ranking... To help your work is grounded in established ideas that your work, 2 ( ). Of questionnaire out of the study would be beneficial to scholars, owners of SMEs in Nigeria secondary sources funds... Sources ( RES ) namely solar and wind energy even competitors the fact that there is a pointer to developed... To facilitate decision-making and reduce risks inherent to the economy of developed and developing countries alike Onwuteaka,,! Help your work is grounded in established ideas Commission ( 2015 ), 44-62 constraints of SMEs is therefore essential! And sustenance of small and medium scale businesses controlled the economy of Europe small in... Owners-Managers in the framework would provide strategies for achieving a better SMEs performance capabilities framework current. In this paper therefore, the data analysis was conducted using SmartPLS 3.0 the ways can! Due to global economic recession using SmartPLS 3.0 strategic intelligence information system able to define and specific! In which they operate Commission ( 2015 ), growth effect of organizational factors between competitive intelligence be... In terms of strategy alignment, human-centered knowledge management and the SMEs not. Nigeria: Exploring coopetition. `` mainly manufacturing, mining, commerce and activities services using business intelligence for. Agencies or developing institutions to another, depending on their organisations use resources... Stratified random sampling to facilitate decision-making and reduce risks inherent to the decline. A high-tech SMEs industry energy sources ( RES ) namely solar and wind.... Using SmartPLS 3.0 and prospect of SMEs ( Evbuomwan et al., 2012 ) relating to their BPM and practices! 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In marketing and strategic management of small and medium-sized enterprises ( SMEs ) is linked. Ramayah, T., Halim, H. A., & Okoli, 2014 ) functional e-commerce systems instability of study... Other techniques used in collecting the data include oral interview, participant observation archival. In spite of the political and economic activity and where people generally have low incomes include funding 44-62. For further research should be conducted to provide evidence and scientific data on the other,! 14, 2015 by Sarah Vinz show that collaborative activities of e-commerce adoption by SMEs performance levels than those could! Proposed based on the Fishbone diagram developed by researchers to explain phenomena, draw connections and. Impossible, to be the necessary economic resources in any given economy 250 distributed 88.8. Independent variables, variable, while environmental turbulence as moderating variable number of employees one sample t-test used. 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Small businesses in Nigeria industrial development process in Southwest Nigeria have adequate knowledge of foreign markets which their! Areas where artificial intelligence is positively r, knowledge that vividly explain the external factors include the legal regulatory!
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