Business Commons^™

Fail Fast, Learn Fast: Understanding The Process Of Learning From Failure In Smes, Nikolina Koporcic, David Sjödin, Marko Kohtamäki, Vinit Parida

Association of Marketing Theory and Practice Proceedings 2023

‘Fail fast and learn fast’ is a common principle advanced to quickly grow and scale startups and SMEs. However, the literature is lacking detailed insights into how such learning processes are organized. The paper aims to investigate how knowledge-intensive SMEs learn from failures through organizational learning processes. Case studies of three high-tech SMEs that operate in a highly dynamic context are presented. The findings are summarized in the learning from failure process, which includes three phases, each with underlying sub-activities and principles: 1) failure recognition, 2) interactive sensemaking, and 3) organizational adaptation. We summarize our insights into a framework disentangling …

Sinwattana: Capital Crowdfunding For Thai Smes, Singapore Management University

Perspectives@SMU

A Singaporean entrepreneur falls in love with Thailand, and creates the country’s first online equity crowdfunding platform

Influence Of Ict Use On Business Performance Of Small And Medium Enterprises In Port-Harcourt Nigeria., Okoro Obinna Jeremiah, Yacob Haliso, Otuza Evans Chima

Library Philosophy and Practice (e-journal)

Abstract

The significant contributions of the Small and Medium Enterprises towards developing the economy of any given country cannot be over-emphasized. SMEs are attributed to be engines of economic development especially as experienced in most developed countries of the world. However, the contribution of SMEs in developing countries has been confirmed as poor. This assertion is not farfetched from what is obtainable in Nigeria. Research has shown the performance of SMEs to be poor especially in Port-Harcourt. In this study, attempts are made to examine the influence of ICT use on the performance of Small and Medium Enterprises in Port-Harcourt …

Global E-Commerce Readiness Of U.S. Smes Towards The Mexican Market: Are American Small Businesses Prepared For Digital Commerce To Mexico?, Ricardo Cardoza, Eileen Daspro Dba

McNair Summer Research Program

The entry into force of the United States-Mexico-Canada Trade Agreement on July 1st, 2020, ushered in a new era of regional trade for the region. The modernized agreement’s inclusion of a chapter specifically focused on expanding digital trade and investment reflected a business phenomenon that had expanded markedly over the last ten years: cross-border e-commerce within the former NAFTA region. This article examines the literature needed to assess the readiness of U.S. small and medium-sized businesses (SME’s) to sell to the Mexican market online based on the degree of localization of their firm’s websites towards the Mexican market. First, a …

Research Trends And Mapping On Social Media In Smes: A Bibliometric Analysis, Abdurrahman Rahim Thaha, Erna Maulina, R. Anang Muftiadi, Mohammad Benny Alexandri

Library Philosophy and Practice (e-journal)

As the backbone of the economy from various countries, SMEs use social media in their business activities. This study aims to determine trends and maps in social media and SMEs research from the Scopus database. This study uses bibliometric analysis on the Scopus database from 2009 to 2020. Social Media and SMEs search string use in titles, abstracts, keywords, and English article in the Scopus database. Further filtering by reading article content unrelated to SMEs to eliminate irrelevant articles. Search results were processed with VOSviewer software to acquire trends and co-occurrences of article keywords. A total of 210 articles were …

Digital Marketing And Smes: A Systematic Mapping Study, Abdurrahman Rahim Thaha, Erna Maulina, R Anang Muftiadi, Mohammad Benny Alexandri

Library Philosophy and Practice (e-journal)

Small and Medium Enterprises (SMEs) have a high priority for many governments because of their important economic contribution and the number of people they employ. The very rapid development of ICT in the digital era has an impact on various lines of life, including changes in business environment and consumer behavior. Therefore, the need to find out about research trends and themes in digital marketing in SMEs is important. The objective of this paper is to classify, and identify related themes and trends in the literature that are directly related to digital marketing and SMEs over the past 10 years. …

Outcomes Of An Expert Survey: Are Singapore’S Manufacturing Small And Medium Enterprises Ready To Embrace Industry 4.0, Gopalakrishnan Surianarayanan, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

Industry 4.0 encompasses adopting opportunities from end-to-end digitalisation with connected computers and increasingly autonomous automation systems equipped with intelligent machine learning algorithms that control the robotics without much input from humans. Smart manufacturing technologies (a part of the smart industry, an extension of Industry 4.0 initiatives and implementation) involve automating various processes. It aims to connect various units in real-time while enhancing profitability by reducing costs, increasing labour productivity, and improving overall efficiency. The impetus for our paper is the assumption that the adoption of smart manufacturing technologies such as advanced robotics, cyber-physical systems, or the Internet of Things (IoT) …

University-Based Technology Start-Up Incubators – Evaluating Their Contribution To The Co-Production Of Knowledge, Innovation And Growth. Experience From The Edge, Anthony Paul Buckley, Stephen Davis

Articles

Policy makers in developed economies see merit in supporting the innovative abilities of technology entrepreneurs. It is hoped that from these highly–educated entrepreneur(s), new technology and service–based firms (NTBFs) can emerge. Indeed empirical evidence suggests that it is fast-growing young innovative firms which provide the bulk of new employment growth (Henrekson & Johansson, 2010; Storey & Greene, 2010). Start-up incubators are one of a number of micro-policy interventions with which states attempt – primarily through publically funded higher education Institutions - to support technology entrepreneurs to develop and commercialise their innovations. Incubator numbers have grown globally from their first appearance …

The Contribution Of Higher Education-Based Technology Start-Up Incubators To The Co-Production Of Knowledge, Innovation And Growth: Experiences From The Edge, Anthony Paul Buckley, Stephen Davis

Articles

Start-up incubators are one of a number of micropolicy interventions used by states to support their technology entrepreneurs. Since 2000, the number of incubators in the United States has almost trebled while that in Europe has more than doubled. This article outlines the challenges involved in attempting to evaluate the contribution of the higher education technology start-up incubator process. It advocates theory-based evaluation (TBE) methodology as a possible solution for effective evaluation (and policy learning) in complex research settings such as this, where a study is unable, for myriad reasons, to meet the stringent requirements of experimental research design. TBE …

Influence Of Business Information Use On Sales Performance Of Smes In Lagos State, Adebowale Ojo, Sydney Akinsunmi, Oluwatimilehin Olayonu

Library Philosophy and Practice (e-journal)

Small and Medium Scale Enterprises (SMEs) are crucial drivers of every nation’s economy. However, reports suggest SMEs in Nigeria have not performed creditably well in terms of sales. Hence, they are yet to contribute to a large extent to the economic growth and development of the country. Considering that business information is an indispensable resource in overall business performance, one is forced to question the availability and utilisation of business information by SME owners. This study examines the influence of business information use on the sales performance of SMEs in the information technology sector in Lagos State. Employing a survey …

Entrepreneurial Orientation And International Scope: The Differential Roles Of Innovativeness, Proactiveness, And Risk-Taking, Li Dai, Vladislav Maksimov, Brett Anitra Gilbert, Stephanie A. Fernhaber

Scholarship and Professional Work - Business

This research integrates the international business and entrepreneurship literatures by examining the independent influences of innovativeness, proactiveness, and risk-taking on the ability of a firm to broaden its scope across international markets. For each dimension of entrepreneurial orientation, a cost–benefit framework is applied to highlight the trade-offs associated with different levels in the internationalization context. Based on a unique dataset of 500 SMEs spanning 10 industries, the results reflect the consequences of being “stuck in the middle” with respect to their strategic posture on innovativeness and proactiveness, but reveal a nuanced role for risk-taking behavior. The non-uniform and non-linear relationships …

A Proposed Methodology To Promote Adoption Of 'Green' Production By Small Firms, Elizabeth Walker, Janice Redmond, Margaret Giles

Research outputs pre 2011

Small firms are critical to all economies but also have a significant negative impact on the environment. Their collective footprint equates to 60% of industrial pollution yet small firm owner-managers are not convinced of the necessity for behaviour change. This paper develops a proposed methodology to engage small firm owner-managers in 'green' production, in particular adoption of energy saving and waste recycling practices. This methodology includes a suggested approach to determining the 'tipping point' for the investment of time and resources by small firms. The paper argues that knowing the 'tipping point' and making a realistic business case should encourage …

Tao Of Downfall: The Failures Of High-Profile Entrepreneurs In The Chinese Economic Reform, Wenxian Zhang, Ilan Alon

Faculty Publications

Through historical reviews and case studies, this research seeks to understand why some initially successful entrepreneurs failed in the economic boom of past decades. Among various factors contributed to their downfalls are a unique political and business environment, fragile financial systems, traditional cultural influences and personal characteristics. Notwithstanding that these factors should be further tested through empirical studies, those high-profile entrepreneurs are oblivious but essential actors in the grand theatre of China's economic transformation and their failures have contributed to the swift development of the Chinese entrepreneurship over the last 30 years.

Going Global: Factors Influencing U.S.-Based Smes’ International Market Access, Jayati Ghosh, Denise Lucy, Françoise Lepage

Collected Faculty and Staff Scholarship

Globalization promotes vast business opportunities for trade, flow of capital, ideas, and people. In order to integrate into the global economy, countries tend to promote policies, which in turn, help to remove barriers to the flow of investment, goods, and services. While there is ample information describing how multinational corporations have benefited from globalization through greater access to international markets and investment, there is a need to identify ways to unburden small to medium-sized enterprises so that they can reach their potential in the global economy. Barriers vary across business sectors. However, there are fundamental impediments that prevail, in general. …

A Review Of Interventions To Encourage Smes To Make Environmental Improvements, Craig M. Parker, Janice Redmond, Mike Simpson

Research outputs pre 2011

Small and medium sized enterprises (SMEs) are an important part of the world economy but they are thought to be responsible for around 60% of all carbon dioxide emissions and 70% of all pollution. SMEs often have major problems with limited resources, limited knowledge and limited technical capabilities to deal with their own negative environmental impact. SMEs exhibit widely differing characteristics and commitment where environmental issues are concerned. Yet under these conditions they are all expected to engage in environmental improvement. Interventions that encourage environmental improvement are often polarised between regulation and legislation at one extreme and voluntary environmental agreement …

Employing Social Capital By Small & Medium Enterprises To Bear Fruit From Wireless Communications, Abdelnasser Abdelaal, Mehruz Kamal, Peter Wolcott

Information Systems and Quantitative Analysis Faculty Proceedings & Presentations

Wireless and mobile communications can save Small and Medium Enterprises (SMEs) significant time, money, and effort due to the mobility, flexibility, and ease of use mobile devices provide. SMEs that use such innovations can improve productivity, decrease costs, and enhance the quality of the business process. Lacking technical skills and financial resources, SMEs need special support from local communities and governments in order to survive the severe competition of big chain stores. This paper proposes a model for SMEs to adopt new innovations—those of wireless communications—by employing social capital. We have used a case study approach to show that social …

Small And Medium Enterprises In Singapore And The New Economy, Boon Chye Lee, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

From its earliest days as a British outpost, Singapore has relied heavily for its economic survival on its position as an entrepot trading centre. In the first decades after independence in 1965, economic strategy was focused on building infrastructure, attracting foreign direct investment, and export-led growth. The political commitment to openness in both trade and capital — and, more recently, labour — is one of the key features of a strategy that has delivered remarkable returns in terms of the economic well-being of the people of Singapore. Between 1961 and 1996 GDP per capita grew at an average rate of …