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Critical Success Factors (CSFs) of SMEs in Nigeria and the Mediating Impact of SMEDAN Initiative Between the CSFs and SMEs’ Success
Babandi Ibrahim Gumel,
Barjoyai Bin Bardai
Issue:
Volume 12, Issue 3, June 2023
Pages:
68-86
Received:
5 April 2023
Accepted:
23 April 2023
Published:
10 May 2023
Abstract: The study is deduced from a Ph.D. thesis that investigated the critical success factors influencing SMEs in Jigawa State, Nigeria. Over twenty-one, critical success factors were identified in the literature review as influencing the success of SMEs across many locations and industries, and seven were considered important for this study. Studies confirmed the need to identify the CSFs that apply to SMEs of a location or industry. The federal government of Nigeria focused on developing entrepreneurship and SMEs to trigger socio-economic development, which resulted in many initiatives, including the establishment of SMEDAN to support the development of SMEs to reduce or eliminate their failure, as envisaged by many researchers. The objective was to discover the CSFs that influence the success of SMEs in Nigeria. The study using a mixed approach, considered the SMEs operating in Jigawa State, Nigeria, and selected a sample of four hundred respondents where 314 answered the self-administered survey questionnaire, and 15 owners/managers answered the semi-structured interview. The application of the SPSS statistical package revealed a higher educational level, prior work experience & management skills, adequate financial resources, and legal & regulatory compliance as influencing the success of SMEs of Jigawa State, Nigeria. Similarly, the SMEDAN initiative mediation between education level and finance resources: and the success of SMEs operating in Jigawa State is influencing their success. The CSFs of SMEs were considered information to be utilized by owners/managers to develop best business practice policies that will trigger socio-economic development by reducing unemployment and poverty in Nigeria. The paper positioned a CSFs model for SMEs operating in Jigawa State, Nigeria, and will serve as information that will be utilized to develop best business practices to mitigate SMEs’ failures.
Abstract: The study is deduced from a Ph.D. thesis that investigated the critical success factors influencing SMEs in Jigawa State, Nigeria. Over twenty-one, critical success factors were identified in the literature review as influencing the success of SMEs across many locations and industries, and seven were considered important for this study. Studies con...
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Impact of Competition and Market Access Factors on the Performance of Secondary Livestock Markets in Turkana, Kenya
Ekiru Francis Anno,
John Samali Eipa,
Josephine Namongo Emase
Issue:
Volume 12, Issue 3, June 2023
Pages:
87-98
Received:
21 April 2023
Accepted:
9 May 2023
Published:
18 May 2023
Abstract: Globally, livestock farming is vital to the growth of economies. In the drylands of Africa, the scarcity of water and pasture significantly impacts livestock productivity and marketing, making local markets dominated by foreign stocks, products, and entrepreneurs. This study seeks to examine the effects of competition and market access factors on the performance of Turkana's secondary livestock markets. The strategic questions formulated to investigate the research problem were: what are the characteristics of livestock production and marketing in Turkana? what competition and market access challenges are outstanding in Turkana’s livestock production and marketing context? and how does competitive rivalry affect the performance of livestock enterprises and market performance in Turkana? From a sampling frame of 180, 168 livestock traders (primary participants) were statistically sampled from Kakuma, Lokichar, and Kalemngo'rok markets. In addition, 24 government and civil society livestock development experts were purposefully selected as secondary study participants. Study results show that competitive rivalry significantly affects livestock production and marketing in Turkana, making them unprogressive. Competition and market access are crucial aspects of livestock development, and identifying and managing their constituent features can aid in structuring, organizing, and commercializing livestock production. The influence of competition and market access factors on livestock development in Turkana is exacerbated by limited legislation and regulatory frameworks, limited research, the use of informal livestock marketing systems, inequalities in livestock production, insecurity, limited capital, rivalry in markets, the exploitation of low-capital traders, and climate change effects. Recommendations for application and future research emphasize the need for holistic programming of livestock developments in Turkana, with a focus on stakeholder capacity development, the use of systems-based approaches in programming, knowledge and technology transfer, legislation, and increasing competition and market access capabilities of local traders in the local and external markets.
Abstract: Globally, livestock farming is vital to the growth of economies. In the drylands of Africa, the scarcity of water and pasture significantly impacts livestock productivity and marketing, making local markets dominated by foreign stocks, products, and entrepreneurs. This study seeks to examine the effects of competition and market access factors on t...
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The Role of Marketing Strategy on Market Performance: A Study on Small and Medium Enterprises in Ethiopia, Jimma Town
Endalkachew Desta,
Chalchissa Amantie
Issue:
Volume 12, Issue 3, June 2023
Pages:
99-107
Received:
27 February 2023
Accepted:
8 May 2023
Published:
5 June 2023
Abstract: This study investigates the role the marketing strategies on the market performance of medium and small enterprises in Ethiopia Jimma Town. To achieve the objectives of this study descriptive research design and qualitative interpretive approach were also employed. To answer the research questions, semi-structured interviews were administered to target respondents of small and medium enterprise owner-managers. A sample of 15 enterprise owner-managers was selected by using the purposive sampling method. The data collected by in-depth interviews were analyzed using qualitative data analysis steps in which collecting the data through appropriate data collection methods to collect all the data without missing, recording, and note taking are the important activities to be done. Categorizing and refining the recorded interviews for analysis, applying inductive data analysis, and writing the report are steps used to analyze data. Based on fifteen interviews without owners/managers in different firms, it was found that a well-defined marketing strategy leads to an increase in the business market performance. The findings of this study indicated that marketing strategy dimensions such as (product, price, promotion, place, people, process, physical evidence, segmentation, targeting, and positioning) strategies are determinant factors that play great in forcing the achievement of market performance. The study recommends that to get high revenue and profitability small and medium enterprise owners’ managers should continually adopt and implement marketing strategies.
Abstract: This study investigates the role the marketing strategies on the market performance of medium and small enterprises in Ethiopia Jimma Town. To achieve the objectives of this study descriptive research design and qualitative interpretive approach were also employed. To answer the research questions, semi-structured interviews were administered to ta...
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Demographic Factors Affect on the Investment Decision of Policy Holder to the Life Insurance
Issue:
Volume 12, Issue 3, June 2023
Pages:
108-114
Received:
26 January 2023
Accepted:
28 April 2023
Published:
9 June 2023
Abstract: In this paper, the researcher analyzed demographic factors determinant on the investment decision of policyholders towards life insurance in Nepal. This paper is based on quantitative data through interview schedules by the semi structured questionnaire and qualitative data information collected by specific two cases, total numbers of sample is 205 respondents from the universe. The main objective of the study is to identify the demographic factors influencing customer investment decision in life insurance. The demographic factors like; age, occupation, and education show statistically significant association on investment decision of policyholders towards life insurance policy, but policy innovation and investment decision on life insurance policy have no significant relationship. It also found that, there is positive relationship between sex and age groups of respondents with investment decision on life insurance policy, but the negative relationship with policy innovation and company reputation. This paper concluded the different factors are affecting while respondents invest on life insurance policy like; tax benefit, risk coverage, saving, security with high return, insurance service, life insurance policy innovation, premium charge, company reputation, facility for loan, financial support to dependency and child education and marriage. Among the eighteen life insurance companies in Nepal, Nepal Life Insurance Company is more preferable and trusted life insurance company and respondents are liked the endowment policy than the others life insurance policy.
Abstract: In this paper, the researcher analyzed demographic factors determinant on the investment decision of policyholders towards life insurance in Nepal. This paper is based on quantitative data through interview schedules by the semi structured questionnaire and qualitative data information collected by specific two cases, total numbers of sample is 205...
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The Effects of Social Media Marketing on Customer’s Purchase Intention; a Moderated Mediation Model from Apparel Industry of Pakistan
Pu Liu,
Hassan Ali Qureshi
Issue:
Volume 12, Issue 3, June 2023
Pages:
115-122
Received:
3 May 2023
Accepted:
30 May 2023
Published:
20 June 2023
Abstract: Social media has become the modus operandi of the 21st century. Social media is being utilized more and more as a medium for advertising. A new, advanced, and unpredictable factor impacting consumer behavior is evolving: social media. Due to a widespread use of social media, it is the need of time to examine the social media marketing (SMM) empirically. Organizations nowadays, are more focused on using online marketing strategies to enhance their profits and performance. Due to the widespread of COIVD-19 all over the world, it has been understood by organizations that the importance of using online stores is critical for every business. Social networking has gained much importance in current era and social networking platforms has highest number of users than ever. So, the importance of social media for acquiring customers cannot be ignored. Though the brand image is made due to many factors like quality of products, after sales services, value of money etc. but it can be enhanced by using proper social media marketing. This study included brand image as mediator for this reason. Brand image can affect purchase intention and social media marketing can be used to enhance brand image. Due to these reasons, this study has attempted to empirically to investigate the impact of social media marketing (SMM) on brand perception (BI) and purchase intent (PI). A quantitative questionnaire-based study was conducted. From the results it has been concluded that SMM has positive impact on purchase intention. The mediating role of brand image is also found significant. Findings of this study can be used by the decision makers as the findings will help them to understand the importance of social media marketing related to the purchase intentions and enhancing brand image. The findings of the study will also help them in understanding that how the use of social media marketing will help them in getting new customers.
Abstract: Social media has become the modus operandi of the 21st century. Social media is being utilized more and more as a medium for advertising. A new, advanced, and unpredictable factor impacting consumer behavior is evolving: social media. Due to a widespread use of social media, it is the need of time to examine the social media marketing (SMM) empiric...
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ICT and Social Services Delivery in the Local Government Councils (LGCs) in Enugu State Nigeria
Felix Ukwu,
Charles Manasseh,
Chine Sp Logan,
Ogochukwu Okanya,
Felicia Eze-Dike,
Emeka Ejim
Issue:
Volume 12, Issue 3, June 2023
Pages:
123-128
Received:
3 March 2023
Accepted:
21 March 2023
Published:
27 June 2023
Abstract: The primary function of every government is to provide the basic services needed by the citizens to improve their standard of living. Local government administration is created to trickle down powers of government, its functions and services which the federal and state government may not readily perform, down to the grassroots. Globalization has created the opportunity to access the avalanche of information, communication and technological services (ICT) to bridge the gap of the challenges of delivery of social services, in all the levels of government. The purpose of this paper is to examine the utilization of information and communication technology (ICT) in the delivery of social services in local government council areas in Enugu state, The work, in its findings, identified the numerous ICT packages that could be used to deliver social services to the grassroots such as e- health services, e-construction services, e-education among others, it also identified barriers that could inhibit the proper utilization of these ICT devices such as personnel problem, inadequate equipment, and lack of finance or capital and recommends support of all the levels of government through increased funding and appropriate legal frameworks to spur the actualization of this ICT revolution. It also suggests putting all the necessary requirements needed for the appropriate utilization of these ICT devices for maximum performance.
Abstract: The primary function of every government is to provide the basic services needed by the citizens to improve their standard of living. Local government administration is created to trickle down powers of government, its functions and services which the federal and state government may not readily perform, down to the grassroots. Globalization has cr...
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