Firms are building collaborative relationships with their supply chain partners in order to achieve efficiencies, flexibility, and sustainable competitive advantage. Competitive Intelligence (CI) may not be inappropriate and compares and contrasts competitive intelligence with business intelligence, competitor intelligence, knowledge management, market intelligence, marketing research, and strategic intelligence. The study indicated significant statistical difference for sources of funds and in Critical review of the theoretical frameworks of SMEs internationalisation This research examines collaborative relationships in two separate studies using structural equation modeling: one study examines buyers’ perceptions and the second study examines suppliers’ perceptions. Afolabi, M. O. Particularly, Pirttimaki (2007) see, competitive conditions, market conditions, Competitive intelligence is regarded as the process that supports strategic and tactical, alignment regarding competitors and the markets. Theoretical framework. Those factors involve the business environmental factors that the SMEs cannot control and the SMEs’ internal factors. © 2008-2020 ResearchGate GmbH. Improving, Architectures, Springer-Verlag, Berlin, Germa, the roles of business process capabilities and. (DBRAF) in the context of fashion retail SMEs in Lagos, Nigeria. These environments are qualified by “uncertainty” given the instability of the different parameters cited. With the introduction of improved lending technologies and lending infrastructure, finaincial institutions can be promoted to help finance the growth of SMEs. Understanding the vital role of SMEs in every economy, ranging from positive developments to creation of employments and their very key impact within the various sectors where they are operational, it therefore becomes so operational to critically analyze, using extant literatu… ), Oni, Oluwasola. conduct empirical studies on entrepreneurial success factors and success measuring parameters to enhance SMEs development in Nigeria. (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. 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). Some researchers, mostly from the manufacturing and supply chain management background, would arguably see it as nothing more than an evolution of older researches on “make-or-buy” (Busi and McIvor, 2008). Creation and sustenance of small and medium scale enterprises is a function of many factors which include funding. empirically. Artificial Intelligence and SMEs performance. However, it is unclear if collaborative relationships provide benefits that compensate for the additional expense associated with such relationships. SMEs contribute significantly to employment creation, income generation and stimulation of economic growth in both urban and rural areas. doi: 10.1016/S2212-5671(12)00351-6 International Conference on Small and Medium Enterprises Development with a Theme (ICSMED 2012) Conceptual framework of factors affecting SME … The article is structured as follows. Considering the fact that it is a relatively recent area of research, existing theories covering similar fields of study will be examined with the aim of generating a theoretical framework through which factors affecting the phenomenon in the country may emerge. 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. The econometric technique adopted for the study was multiple regression method based on ordinary least squares technique. Competitor analysis is an essential component of corporate strategy. This study examined the challenges of finance as is experienced by business operators classified into micro, SMEs in Nigeria In Nigeria, empirical report shows that an estimate of about 70% of the industrial employment is held by SMEs and more than 50% of the Gross Domestic Product is SMEs “Proven strategies in competitive intelligence: Profit sustainability by Small-Medium Scale Construction Firms (SMSCFs) is a major concern for the parties in the construction industry. © 2016, International Journal of Business and Society. Results show that collaborative activities, such as information sharing, joint relationship effort, and dedicated investments lead to trust and commitment. More specifically the focus was on the organisations listed on the Johannesburg Securities Exchange within the Life Assurance sector, within which a final response rate of 36.1% was achieved, including the 100% response rate from the six listed organisations.By understanding the extent to which strategic intelligence is utilised in the South African longterminsurance industry, and the benefits or problems that are experienced by implementing and using strategic intelligence as an input to the strategic management process we can comprehend the value that strategic intelligence adds in the decision making process. despite several specialized institutions in charge of micro credit and policy instruments established to enhance development of Small scale enterprises, SMEs are This paper presents a theoretical framework on the influence of entrepreneurial self-efficacy on the performance of Nigerian Small and Medium Enterprise (SMEs) with the moderating role of access to finance. Coopetition: Collaboration between business competitors, in the hope of mutually beneficial results. The above statistics demonstrate that the Nigeria financial framework is greatly capitalized and dynamic; but, her increase, and improvement of entrepreneurship and MSMEs sector is weak. Competitive intelligence is positively related to S, list areas where artificial intelligence can be applied, these include expert/knowle, 2006). Practitioners should be better able to define and measure specific actions relating to their BPM and SCC practices. Affecting SMEs’ Internationalization Process in The Southwest Nigeria. For example, Table 2.1 gives different definitions of SMEs … Environmental turbulence moderates the relationship between entrepreneurial orientation, reconfiguring capability and export performance. Journal of Intelligence Studies in Business. In Ahmad, N. H., Ramayah, T., Halim, H. A., & Rahman, S. A. Strategic Management of Small Firms in Hostile, Economics, & Trading. Artificial intelligence is positively r, knowledge that vividly explain the external environment of a firm, the firm’s position (i.e. In line with these objectives, this study . The future survival of small and medium enterprises (SMEs) is inextricably linked to their implementation of e-commerce systems. and relevant literature. This paper stresses the need to consider the interrelationships between BPM, SCC, collaborative advantage and organisational performance for both direct and indirect effects. The SMEs nomenclature issued to mean small and medium-sized enterprises (ILO, 1998). Business Intelligence and SMEs performance. performance. This research therefore aims to explore possible benefits and barriers that SMEs in Nigeria would experience in the adoption of coopetition. It finds that the growth of SMEs in Algeria is hampered by several interrelated factors. The results further suggest that SMEs need to use their strategic activities to improve their ability to obtain finances in order to perform well. moderating effects of environmental turbulence and scarcity of studies on In spite of recognized significant contribution of SMEs to nations’ economy, Nigerian SMEs performance is below expectation. Download Complete Project / Seminar Research Material on "Small And Medium Enterprises (SMEs) Financing: A Catalyst For Economic Growth In Nigeria" study was motivated by poor SMEs performance in Nigeria, lack of studies on Further, effective BPM and SCC practices lead to enhanced performance and collaborative benefits. Cooperation: The action or process of working together to the same end. Small and medium enterprises (SMEs), which account for 96% of businesses in Nigeria are often forced to close because they lack access to funds. This number varies across countries. Society of Competitive Intelligence Professionals, Develop, Relationship between Entrepreneurial Orientation and, South Asia Journal of Multidisciplinary Stud, accountants (CPAs) in Thailand: effects of, Wang, E. T. G., Chia-Lin Lin, C., Jiang, J. J., & Klein, G. (2007). Indianapolis: Handbook on Business Process Management 1, guidelines for donor-funded interventions. Those factors involve the business environmental factors that the SMEs cannot control and the SMEs’ internal factors. In an attempt to address this research gap, this study articulates the aim of identifying exogenous economic factors influencing the construction industry through a qualitative literature review. A sample size of 522 SMEs operating in Kano, Kaduna and Sokoto states of Nigeria were selected using stratified simple random sampling techniques. The most frequent upper limit designating an SME is 250 employees, as in the European Union. Therefore, this, resources/competencies/capabilities help the firm to attain competitive advantage and. This segment provides fifty percent of employment and fifty percent of the total industrial output. According to the International trade Centre (ITC, 2015), globally, SMEs make up over 95% of all firms, account for approximately 50% of GDP and 60% - 70% of total employment, when both formal and informal SMEs are taken into account. … We selected our sample countries for two main reasons. 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. Improving the effectiveness of SC allows higher organisational performance levels than those that could be achieved in isolation. include journal articles, textbooks and repor, KM and BPM are all intangible resources as explained in theory. The development of SMEs is therefore an essential element in the growth strategy of most economies and hold particularly significance for Nigeria. The useable sample size consisted of 222 returned copies of questionnaire out of the 250 SME: Small and medium-sized enterprises (SMEs) are non-subsidiary, independent firms which employ fewer than a given number of employees. Survey research design was adopted in Benue State, Nigeria. Abstract. Relative Important Index was used for ranking and Kendall's coefficient of concordance to measure the degree of agreement of the ranking among the professional groups. 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 4.3.2 Other needs of the SME sector 36 5 SUPPLY OF CREDIT AND … In this, The purpose of this research paper was to explore the extent to which strategic intelligence is utilised within the South African long-term insurance industry and whether it could be used to identify opportunities or threats within the global environment to remain competitive, create greater innovation, and corporate advantage.The paper obtained the qualitative views and opinions of strategic, Extracting the data automates the process of finding predictive information in a large database. Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. 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 model was designed in relation to Roger’s diffusion of innovation theory in which culture, policy and cost were highlighted as the key variables influencing an organization’s decision to adopt and use ICT. Contribution to reduce risks related to strategic decisions in new uncertain competitive environment... Understanding the use of strategic intelligence as a strategic management tool in the long-term insu... Strategic Intelligence : Business Intelligence, Competitive Intelligence, and Knowledge Management /... A competitive intelligence measures in business forecast with renewable intensity sources. Performance is critical for every listed firm, as it enhances shareholder’s value and capability to generate earnings from invested capital. In spite of the many benefits that they provide to the economy, there are many challenges facing SMES in developing countries. Purposive sampling was used to identify professionals who were Owners/ managers. Access scientific knowledge from anywhere. Strategic intelligence is positively r, Today’s dynamic competitive environment is challenging and sometimes difficult for, periodic information on opportunities and threats exist, process by which firms generate vital information regarding their competitors and the, decision making to achieve competitive advantage. Abstract The results provide empirical evidence that BPM improves both organisational performance and collaborative activities. This paper therefore, provides the conceptual and theoretical frameworks for studies on entrepreneurial success of the small and medium enterprises in Nigeria. Theoretical Foundations 2.1 SMEs Wealth Creation There is little denial that the study of SMEs’ wealth creation has not received enough attention in developing countries in recent years (Asikhia & Jansen van Rensburg 2015; Enderle 2005; Pitelis & Vasilaros 2009). Quota sampling as well as stratified random sampling technique This study examines the interrelationships among Business Process Management (BPM), Supply Chain Collaboration (SCC), collaborative advantage and organisational performance. Therefore, it is argued. Published by Elsevier Ltd. Additionally, SMEs in such countries unfortunately sometimes have the challenge of not being supported by government policy. Join ResearchGate to find the people and research you need to help your work. (SMEs) on Nigeria’s economic growth performance for the sample period 1993 to 2011. The paper uses a theoretical approach for the purpose of assessing the challenges that have affected the development of the informal SMEs sector over the years in both the developing and developed world. Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. was used to test the hypotheses. This will help to reduce the incidence of high failure rate of construction firms. 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. (2013), Growth effect of Small and Medium Enterprises (SMEs) Financing in Nigeria, Journal of African Macroeconomic Review Vol. Most SMEs in Nigeria die within their first five years of existence, a smaller percentage goes into extinction between the sixth and tenth year while only about five to ten percent survive, thrive and grow to maturity [6]. Frequencies of Muslim and Christian violent deaths. 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. A model was developed based on theoretical … However, there has been limited focus on developing a suitable framework that enables the evaluation and shared an understanding of the factors influencing the adoption of mobile marketing technology by service SMEs in Nigeria. To Support Customers in Easily and Affordably Obtaining the Latest Peer-Reviewed Research, Copyright © 1988-2020, IGI Global - All Rights Reserved, Additionally, Enjoy an Additional 5% Pre-Publication Discount on all Forthcoming Reference Books, Oni, Oluwasola. Theories are developed by researchers to explain phenomena, draw connections, and make predictions. It is a way to use predictive analysis data to predict future patterns. creation, GDP and export earnings for the country. 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. To counter these competitive forces, firms have resorted to gathering information at their disposal and converting it into competitive intelligence through analysis and human judgment. The findings show that in Imo State, In order to bridge the gap, a moderating effect of AF is introduce or proposed based on the suggestions of the literature. Calantone, R., Garcia, R., & Dröoge, implementation factors for the Australian wine, Covin, J. G., & Slevin, D. P. (1989). Furthermore, some dimension of, significant relationship between emotional intelligence, creativity and innovation, found a significant and positive impact of strategic intell, implemented properly, improve decision making, H1. in the market, with its customers, competitors) and the, as input for managers in the decision-making, performance. The paper presents a theoretical framework on the moderating effect of access to finance on the relationship between entrepreneurial self-efficacy and SMEs performance in Nigeria. being inhibited by the gap between policy and policy implementation in contributing effectively to sustainable development. 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 Selection and peer-review under responsibility of Parahyangan Catholic University. Intangible resource. programme. In Nigeria SMEs are the backbones to the economy, 97% of all businesses in Nigeria employ less than 100 employees. Developing your theoretical framework. IMPACT OF MICROFINANCE BANKS ON GROWTH AND SUSTAINANCE OF SMEs IN NIGERIA. Regression analysis and coefficient of correlation were used as methods of data analysis. Strategic Intelligence and SMEs performance. Based on, H2. 2.1. All rights reserved. This is because SMEs in Nigeria today faces severe limitations in financing, management skill, marketing, modern technology and technical expertise. Published on October 14, 2015 by Sarah Vinz. In Nigeria SMEs are the moral fibres of the economy, a large percentage of businesses in Nigeria employ less than one hundred employees (Oyekunmi, 2006). Originality/value In Europe, according to the European Commission (2015), they are the backbone of the economy. reasons adduced to why small scale enterprises perform poorly in developing economies including Nigeria There Prior to the late 19th century, cottage industries, mostly small and medium scale businesses controlled the economy of Europe. capabilities of firms hold some qualities that make them have value. The Role of Microfinance Institutions in the Growth of SMEs a case study of Molyko Buea Cameroon and business process management on SMEs performance. Data was collected from 204 manufacturing firms in Thailand, and the interrelationships proposed in the framework were tested via Structural Equation Modelling. This study highlights intangibles resources that parties in the building construction industry should be conscious of. small and medium scale (MSMEs), and how this affects their financial performance. (2014), Saed (2013), Baei et al. Design/methodology/approach In Nigeria, such challenges include the lack of government funding, inadequate infrastructure and unstable power supply. Autio, et al. According to Abd-Hamid et al. observation and archival research. SMEs occupy a strategic place in economic growth, equitable and sustainable development; constituting as high as 90 percent of enterprises in most countries A well functioning financial system is a key enabler of economic growth. Development of Small and Medium Scale Enterprises: Journal of Research in Commerce, Economics &, Palacios, D., Gil, I., & Garrigos, F. (2009). Despite that, , SMEs in Nigeria employ about 60 % of the labour force, they contribute only 35 % of industrial output and account for 10 % of industrial exports (Nnana, 2002). Purpose The conceptual framework is based on the Fishbone diagram developed by Kaoru Ishikawa (1986). Kheng, 2016). The development of SMEs is therefore an essential element in the growth strategy of most economies and hold particularly significance for Nigeria. (2016). The study contributes to the literature by highlighting generic and specific exogenous factors that should be of concern to players in the construction industry including policy makers in their project planning. Trust and commitment, in turn, lead to improved satisfaction and performance. M.O. the study area. International Journal of Entrepreneurship and Management Practices, 2(5), 44-62. 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. Developing Country: A country with little industrial and economic activity and where people generally have low incomes. Rather than focusing only on improvement at individual firm level, SCC is vital to compete in the market. On the other hand, poor access to finance conquers a central position for the low performance of Nigerian SMEs. 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). The article discusses issues, challenges, and problems of Small and Medium Scale Enterprises (SMEs) in Nigeria. International Journal of Applied Science and Engineering. The general objective of this research work is to investigate the likely challenges that SMEs will encounter in adopting IFRs for SMEs within the Nigerian environment and those factors that could hamper the adoption of the standard by SMEs. Financial constraints, management problems, lack of capital and the lack of support from financial institutions and government development agencies are issues that have also been cited as major hindrances to small business development in Nigeria (Okpara, 2011). Violent Deaths in 2013 and 2014. their capacity toward closing the funding gap for SMEs. solving the issue of credit to SMEs, the operations of the micro finance banks were also evaluated to determine The theoretical foundation of this study is based on the work of Snee [11] which states that the Lean six sigma is … In Thailand 99.6% of, 25% to employment, 46.54% to GDP and 2.7%, 38% to GDP), Thailand (69% to employment and 38.9% to GDP), Germany, (79% to, Conceptual Framework on Small and Medium Enterprises Performance in, only 2% of new start-up SMEs continue to survive up to 5 years. The objective of this study is to investigate the mediating role of access to finance on the positive relationship between entrepreneurial orientation (EO), market orientation (MO), learning orientation (LO), technology orientation (TO) and SMEs performance in Nigeria. A self-controlled survey was utilized to gather information from the SMEs owners-managers in the South-western region of Nigeria. This is a pointer to the fact that there is a problem. The leadership factors in SMEs in Nigeria, findings from this study are expected to provide useful policy guide to the stakeholders involved in promoting SMEs and create a platform for the operators in the SMEs sector to achieve organizational objective of sustainable development. Build a Strategic Intelligence Information System able to facilitate decision-making and reduce risks inherent to the strategic choices. In the theoretical framework, you explain the theories that support your research, showing that your work is grounded in established ideas. The effort to transform innovations into economic goods certainly would require reasonable level of funding which appears elusive due to global economic recession. Frequency of violent deaths and their causes. (2003). 1.3 OBJECTIVES OF THE STUDY Entrepreneurial orientation encapsulate the firm –level process, practice and strategic orientation while dynamic capabilities view of firm consists of the structure routine and processes that constitute its ability to reconfigure its asset base to match the requirement of the changing environment. Institutions and corruption ... (Ghana and Nigeria). The study evaluated the Find ways to reverse choice when unexpected events occur. should be conducted to provide evidence and scientific data on the framework (2017). 2. The, intelligence is positively related to firm perform, development. moderating effects of environmental turbulence on the relationships between In 2005, the Federal Government of Nigeria adopted microfinance as the main financing window for micro, small and medium enterprises in Nigeria. The information will help owners and The poor was applied in the choice of the five divisions under study and the distribution of the sampling frame; while supply, while micro finance banks were expected to do more to assist the SMEs. 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. The It is, however, generally viewed that the use of a strategic intelligence framework could greatly enhance decision-making.Data collection for the research undertaken was limited to the 82 long-term insurance companies, which were registered with the South African Financial Services Board. However, relatively few studies have attempted to consider the relationship between TQM, MO and SMEs performance. The study utilised secondary sources of data. For instance, [3] developed a theoretical framework of the key factors affecting the adoption of technology in the Nigerian construction firms. However, in order to avoid the incidence of spurious estimates, evidence from the ADF test conducted revealed that the variables are integrated of order two,1(2). The lack of e-commerce strategies among SME business owners has contributed to a low level of e-commerce adoption by SMEs. The indispensable role of finance to the growth and performance of SMEs and the adoption of microfinance as the main source of financing SMEs in Nigeria therefore makes it imperative to study the extent to which microfinance can enhance SME growth and performance. A total of 300 SMEs were randomly selected from a cross section of a population of 1,500 SMEs spread among all the states of Nigeria including Abuja and covering virtually all forms (Sole Proprietorship, Partnership, Private and Public Limited Companies etc) and kinds (Services, Manufacturing, Processing, Oil & Gas, Educational etc) of business took part in the study. Small construction firms are encouraged to improve their understanding of the political and economic environment in which they operate. The study examined the impact of government intervention on SME growth and evaluated the role of The conceptual framework guiding this study was the pecking order theory. Research limitations/implications Firm Performance and The Mediator Role of Strategic Flexibility: An Empirical, Aminu, M. I., & Mahmood, R. (2016). Conceptual Framework 1.2.1. Thus, the study employed secondary, government agencies and NGOs. Finally, recommendations for further research are also discussed. Practical implications the economy. In this paper we propose the competitive measures between the two renewable energy sources (RES) namely solar and wind energy. The SMEs poor contribution to GDP and employment indicates their … Since 1988, Algeria has initiated deeper economic reforms supported by significant legislation and international agreements. This is an important additional explanation for the existence of the relationship between these strategic orientations and firm performance. The two studies are then compared using invariance testing in order to determine economic and relational factors that drive satisfaction and performance from each party’s perspective. Theoretical Framework and Literature Review We are on the cusp of a completely “new era”, and changes must be made in education to ensure that all students leave school prepared to face the challenges of a redefined world.