Business Commons^™

Adaptation Of Small And Medium-Sized Enterprises In The Food Sector During The Pandemic: Position The Brand As Part Of The Community, Hardian E. Nurseto, Nila A. Windasari, Prasanti W. Sarli

Journal of Global Business Insights

This study explains how small and medium-sized enterprises (SMEs) in the food sector adapted during the pandemic. In-depth, semi-structured, hybrid interviews were conducted with fifteen SME owners in the food sector in Bandung, Indonesia. The study describes five business adaptation strategies using service-dominant logic (S-DL) and structural-functionalism theory: (a) relationship adaptation with suppliers and landlords, (b) employee adaptation, (c) product and sales adaptation, (d) operations adaptation, and (e) promotion adaptation. Findings show a holistic view of actor involvement in the business adaptation process linked to altruism, in which the business and all actors (i.e., suppliers, landlords, customers, employees, government, online …

Mentoring Women Entrepreneurs: Perceived Needs And Benefits, David W. Whitlock, Ashley J. Hampton, Kitty Campbell

Journal of Business & Entrepreneurship

Women entrepreneurs are a rapidly growing demographic. Mentoring is a recurring theme in the literature as a valuable contribution in helping women entrepreneurs succeed. The roles of mentoring as well as the literature of mentoring relationships is presented, followed by a study in which the demand and perceived benefit for mentoring was conducted among women currently engaged or self-identified as aspiring small business owners and entrepreneurs. Women who participated a conference for female entrepreneurs, jointly sponsored by Southeastern Oklahoma State University and the Oklahoma Small Business Development Center, were surveyed. The survey consisted of five sections: the first gathered respondent’s …

Financial Strategies For Long-Term Success In Women-Owned Small Businesses, Melissa R. Dyer

The Journal of Entrepreneurial Finance

Failure of small businesses many times is because of poor implementation of long-term financial strategies. Women small business owners face many challenges in financing their small businesses because they may not have a financial plan. Interviews with 11 women small business owners in Cleveland County, North Carolina were completed to discuss ways to fund and sustain their small business. The success of women small business owners can strengthen the local economy by stimulating economic growth, increase the quality of life for the owner and their family, and can improve the standard of living in their community.

Study On Green Products Innovation Of Fashion Sme “Np”, Griba Raymundo Ginting, Lamtiur Hasianna Tampubolon

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

Innovation is a social and economic success due to the discovery of new solutions that significantly improve value offered to customers and benefits perceived by customers with cost exchanges as profits. Therefore, innovation becomes a competitive advantage for MSME to have the ability to compete and survive in dynamic markets. The purpose of this research is to examine innovations in the green products of MSME Fashion. The research uses qualitative methods with semi-structured interviews and observations. Data is obtained through in-depth interviews with three informants namely the owner and two employees of Fashion SME and triangulation to two consumers of …

Escape For Boone & Crocket, William Foxx, W. Frank Thompson Jr., Joseph W. Giese, David Vanbuskirk

Atlantic Marketing Journal

Eber Crocket is the owner of Boone & Crocket Trapper Supply (B&C). He feels like the environmental forces that are impacting his business are like a trap slowing closing on him. He is considering ideas to improve his store’s profitability.

Demand for furs as fashion goods is a multi-million dollar industry. Twenty percent of this demand is met by wild fur which is harvested by trappers. Trapping suppliers serve as the middleman between small individual trappers and auction houses. These auction houses collect the raw fur pelts from trappers and trapping stores and hold them until one of their auctions. …

Immigrant-Owned Small Businesses’ Participation In Diaspora Philanthropy: A Case Study During The Covid-19 Outbreak, Ximeng Chen

New England Journal of Entrepreneurship

Purpose – The concept of diaspora philanthropy contains the following two components: diasporas, who are individuals who live outside of their homelands but maintain a sense of identity with their home countries, and charitable giving provided by these diasporas to causes related to their hometowns. Often diaspora philanthropy happens through intermediary organizations such as hometown associations, internet-based philanthropic platforms and faith-based groups. Little research explores immigrant-owned small businesses as intermediary organizations for diaspora philanthropy. In the literature of social entrepreneurship, the theory of opportunity recognition provides insights on how do businesses identify opportunities for fulfilling social missions. However, it is …

Social Media Marketing Adoption Strategies: An Exploratory Multiple Case Study Of Landscape Industry Small Businesses, Crystal Lupo, Jason R. Stroman

Journal of Social, Behavioral, and Health Sciences

Despite research contending that marketing is a pivotal factor in small business success, many small business owners continue to underutilize low-cost marketing options available to them. Of these options, social media marketing is a useful tool to maintain competitiveness in the larger marketplace. However, the adoption of social media best practices in small business remains deficient. The landscape industry is a large and growing field with small businesses making up a large and growing share of the industry. Yet some landscape industry small business owners lack strategies to adopt innovative social media marketing strategies to help ensure business viability. This …

Features Of Formation Of The Competitive Environment In Small Business In The Conditions Of Development Of Innovative Economy, Rano Sadikova Phd

The Light of Islam

In a market economy, small business is the leading sector that determines the rate of economic growth, the composition and quality of the gross national product. The development and expansion of the sphere of production and services of small businesses in the Republic will eventually lead to an increase in employment and the development of the country’s economy as a whole.

Further enhancement of the role of small business in the national economy and further improvement of its participation in economic growth largely depends on the state of the competitive environment in this area. It is connected with creation of …

Business Mind To Business Owner: Finding Startup Success, Ammon Kou

Marriott Student Review

Entrepreneurs face a host of challenges when starting a business. Three business owners share their experiences.

Duratable Enterprises Inc., Spencer D. Evans, Hal B. Heaton

The Journal of Entrepreneurial Finance

In late 2017, DuraTable received a number of unsolicited inquiries regarding its interest in selling out in a going private transaction, mostly from private equity firms. Since the chairman of the board and founder, Gary Reynolds, was approaching retirement age and the largest single shareholder who had provided the seed capital to start the company was over 80 years old, Mr. Reynolds was willing to consider a sale and provided information to four or five of them to prepare bids. DuraTable was a closely held company with relatively few individuals holding the vast majority of shares. As such, DuraTable’s shares …

Motivations Of One Small Business Community To Implement Environmental Sustainability As A Business Practice, Ruth C. Hughes, Marleen Troy

Journal of Environmental Sustainability

Small businesses in the Central Business District of Wilkes-Barre, Pennsylvania were surveyed to determine their familiarity with and attitudes towards environmental sustainability, including obstacles and motivators for implementation as well as current business practices. While publications on similar topics existed for small businesses in other countries, there appeared to be little recent published research for small business communities in the United States. The research used a combination of online surveys and interviews with business owners and managers to gather data, as well as an extensive literature review for the basis of the analysis. Research results from the local survey …

Social Change Through Entrepreneurship: Utilizing Portable Sawmill Based Small Businesses To Promote Community Development, Crystal Lupo

Journal of Sustainable Social Change

Reduced demand for wood and wood products resulting from the economic crisis in the first decade of the 2000s severely impacted the forest industry throughout the world, causing large forest-based organizations to close (CBC News, 2008; Food and Agriculture Organization of the United Nations, 2009; Pepke, 2009). The result was a dramatic increase in unemployment and worker displacement among forest product workers between 2011 and 2013 (Bureau of Labor Statistics, 2014). Forested rural communities often depended on the large-scale forest industry for their livelihood, and as a result, decreased reliance on large-scale industry became increasingly important (Lupo, 2015). This article …

Financial Literacy And The Success Of Small Businesses: An Observation From A Small Business Development Center, Pearl Dahmen, Eileen Rodríguez

Numeracy

Small business is the backbone of the U.S. economy; when the financial literacy skills of entrepreneurs fall short of those needed to operate a successful business, it is more than the individual business at risk. In 2012, 14 small businesses requesting growth-acceleration consulting services from the Florida Small Business Development Center at the University of South Florida were assessed financially as part of the service provided by the Center. Financial ratios were used to analyze the business’s financial condition. While performing the financial analysis of these firms, we also surveyed the business owners to determine their level of financial understanding …

California – Land Of “Lawless Taxation” And The “Midnight Special”: Outlier Or Leader In A Growing Trend?, Mystica M. Alexander

The University of New Hampshire Law Review

[Excerpt] “Taxpayers in California recently found themselves the target of a retroactive grab for revenue by the Franchise Tax Board (FTB) in what has called an act of “lawless taxation” by the state of California. The source of the conflict was the Qualified Small Business Stock credit that had been in place in California since 1993. The tax credit, which was designed to encourage innovation and investment in California-based enterprises, allowed business owners who had at least eighty percent of their assets and employees in California to take a credit of fifty percent of the capital gain realized on a …

The Hang-Up With Hamburg: How Center For Food Safety V. Hamburg Will Alter The Food Industry, Joella Roland

Journal of Business & Technology Law

No abstract provided.

Small Business Owner Satisfaction With Financial Performance: A Longitudinal Study, Shanan G. Gibson, William C. Mcdowell, Michael L. Harris

New England Journal of Entrepreneurship

This exploratory study examines the financial performance satisfaction of small business owners at two time periods: (1) nearing the end of the Great Recession and (2) three years into economic recovery. In addition to considering small business owners in general, special attention has been paid to women and minority owners. Using independent samples t-tests, results indicate that business owners are more satisfied with their financial performance in 2012 than they were in 2009. However, results were not consistent for all subgroups of the population; differences exist between men and women owners and between Caucasian and minority owners. Whereas men mirrored …

The Effects Of Entrepreneurial Orientation And Commitment To Objectives On Performance, Mark Simon, Chanel Stachel, Jeffrey G. Covin

New England Journal of Entrepreneurship

The relationship between entrepreneurial orientation (EO) and performance is often moderated by different factors. Specifically, scholars have called for research examining whether commitment to long-term objectives improves EO’s effectiveness, believing that commitment may help firms overcome obstacles associated with EO. In response, we collected survey data from executives in 126 small, high-technology firms, and found that EO and commitment to objectives enhanced sales growth. In addition, the study determined that commitment to objectives was associated with greater increased sales growth of companies high in EO, as compared to those low in EO.

Raising Venture Capital For The Serious Entrepreneur, Michele K. Masterfano

New England Journal of Entrepreneurship

Berkery, Dermot. Raising Venture Capital for the Serious Entrepreneur. New York: McGraw-Hill, 2008. ISBN 9780071496025

Raising Venture Capital for the Serious Entrepreneur is a fascinating journey through the world of venture finance. It provides an interesting, even absorbing view into the arcane world of how venture capitalists determine what companies they will finance, how they decide on the level of investment,and what they expect in return. It further provides important tips for entrepreneurs as they begin their planning for equity financing and the negotiations with VCs for that financing.

Ethical Compliance Behavior In Small And Young Firms: The Role Of Employee Identification With The Firm, Susan Houghton, Mark Simon, Ph.D.

New England Journal of Entrepreneurship

We explored whether employees in smaller, younger firms would be more ethically compromised, and whether employee identification moderates this relationship.We collected survey data from 154 working professionals enrolled in an MBA program in the southeastern United States. We found that employees of smaller, younger firms selected more compromised ethical choices than employees of larger, older firms. Contrary to our expectations, employee identification had no effect in smaller, younger, firms, yet in larger, older firms, identification actually reduced ethical compliance, suggesting that there is not a simple relationship between identification and ethical compliance.

Some Entrepreneurship Pitfalls, Philip Wolitzer

New England Journal of Entrepreneurship

All of us have at some point thought how great it would be to be the boss of our own destiny and build a new business. For some it’s a dream that won’t stop until we try. In the old days, all it would have taken was two months’ rent after we built our leasehold improvements. Oh, how times have changed.

The Entrepreneurial Director, Bruce Sherony

New England Journal of Entrepreneurship

The argument that the board of directors can be a helpful tool for entrepreneurships and small businesses derives from the rationale for using boards from both a macro and a micro perspective. Society depends on boards to provide overall checks and balances in the running of businesses. This could not be more evident from the role of the board in Enron’s collapse (U.S. Senate 2002). The board’s value to the entrepreneur is found in the application of the micro perspective. Two sets of recommendations are developed to formulate an improved model of directorship actions and behaviors. First, duties and responsibilities …

The Often-Neglected Term In The Entrepreneurial Equation—The Purchase Order, Deaver Brown, Joseph E. Levangie

New England Journal of Entrepreneurship

Many entrepreneurs are enthralled with their company’s technologies, products and potential markets. Invariably these emerging ventures present bedazzling business plans with industry-wise vernacular, detailed market research, and sophisticated financial spreadsheets. They often flaunt their “optimized business models.” Investors, however, typically want to know when and how the sales will start meeting the Plan. “Where’s the purchase order?” is the refrain. In this article, our “Practitioner’s Corner” associate editor Joe Levangie collaborates with a long-time colleague, Deaver Brown, to address how businesses should “make sales happen.” Levangie warns that Brown’s elitist education (Choate, Harvard College, Harvard Business School) should not be …

A Cross-Country Assessment Of Government Intervention And Entrepreneurial Activity, Maria Minniti

New England Journal of Entrepreneurship

Recent studies have shown that the contribution of small firms to employment and GDP is increasing. A large amount of work has also established the significance of social and economic variables for entrepreneurial decisions. Very little is known, however, about how government policies and programs influence entrepreneurial activity, and whether these effects are consistent across countries. Using original data from a representative sample of 10,000 individuals and from more than 300 open-ended interviews in 10 countries, this article provides some suggestive evidence that government intervention aimed at enhancing the underlying environment of entrepreneurial decisions may be more effective than intervention …

The Embedded Entrepreneur: Recognizing The Strength Of Ethnic Social Ties, Ed Chung, Kim Whalen

New England Journal of Entrepreneurship

This article is premised on the idea that social networks represent an important, but often overlooked, unit of analysis in management and entrepreneurship studies. The concept of embeddedness, emphasizing the significance of social relationships, is of particular relevance as more and more frequently minorities and immigrants engage in small businessownership. This article borrows from the ethnicity and social network traditions, and offers that an analysis of the ethnic homogeneity of an entrepreneur’s strong and weak social ties would be fruitful in gauging entrepreneurial success.

Growth Intentions Of Owner-Managers Of Young Microfirms, Rolland Lebrasseur, Huguette Blanco, John L. Dodge

New England Journal of Entrepreneurship

A survey of young microfirms was conducted to investigate their growth intentions. The findings confirm the distinct profiles of four types of firms categorized on the basis of current and future employment: Lifestyler, Entrepreneur, Manager, and Mover. They differ in terms of the owner’s perceptions of the desirability and practicality of growing their firm, and with respect to the moderating variables of industry affiliation, business location, and investment level. Research issues and service implications for business support agencies are identified.

Preparing Your Business For Valuation, Margaret D. Nowicki, Eric E. Lewis, Jeffrey W. Lippitt

New England Journal of Entrepreneurship

There is a tremendous need for the valuation of small businesses. Oftentimes, small businessowners do not have the wherewithal to gather the data and keep it up to date for use in situations that require valuation. Formal valuations are necessary because they provide objective evidence of value, in contrast to value set by markets on which public companies are traded. This article focuses on some factors that impact the valuation of the business and will help small businessowners feel more comfortable talking with financial professionals about how the business might be valued.

Does My Business Need A Human Resources Function? A Decision-Making Model For Small And Medium-Sized Firms, Golbou Ghassemieh, Elizabeth "Liz" Thach, Armand Gilinsky Jr.

New England Journal of Entrepreneurship

The questions of when and what types of human resource (HR) support are needed tend to be unanswerable for small and medium-sized enterprises (SMEs). This article addresses this gap in the strategic HR literature. Hiring, training, employee retention/satisfaction, wages and benefits programs, and worker’s compensation insurance are important to SMEs seeking to build strong capabilities and resources and to increase their competitive advantage. This article presents an analysis of the existing HR literature for SMEs. It introduces a decision model to help SMEs choose a cost-effective HR strategy, listing a range of options from hiring the HR function to electronic …

No Mulligans: When Good Entrepreneurs Make Bad Decisions, Joseph E. Levangie

New England Journal of Entrepreneurship

Some of the best entrepreneurs fail early and often. Less talented or less committed entrepreneurs do not even get a second chance. Failure and setbacks, however, can be instructive. What lessons can be learned from these experiences? How can the entrepreneur (and investors) navigate around the potholes on the New Venture Highway? Read on.

The Values Of Being Small And Nimble, Joshua Shuart, Peter Christian ("Chris") Murphy

New England Journal of Entrepreneurship

Peter Christian (Chris) Murphy had worked his way up the “food chain” at AT&T for 19 years, culminating in his position as Sales Center Vice President for South Florida. When he and a coworker realized there was an opportunity in the marketplace for a small, nimble company to take advantage of emerging communications technology that a stodgy, lumbering corporation would have trouble integrating into its service package, Chris decided to jump into an entrepreneurial opportunity.

Getting Things Done: The Art Of Stress-Free Productivity, Shawn Blau

New England Journal of Entrepreneurship

Shawn Blau reviews David Allen's Getting Things Done: The Art of Stress-Free Productivity.