Abstract: In subjective terms, Polish SME sector occupies a
prominent position in the national economic development, in which
planning of the management strategies should be primarily based on
identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry.
SMEs share in printing sector in Poland is estimated at the level of
81% of all enterprises. In recent years, the printing industry achieved
one of the highest levels of EU support in Poland. There is a
relatively high increase in the development of technological
innovations in equipment and the associated significant increase in
production capacity. It can be also noticed that on average, every
third enterprise belonging to the printing industry has implemented
innovations, but not all of them effected in better economic results.
Therefore, the aim of this article is to evaluate the impact of the
implementation of innovation projects financed from the EU funds
for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the
development of innovation in the printing industry, it was specified
that examined SMEs prefer to implement product innovation to
receive a grant to the project at a level between 40% to 60%, the
remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single
implementation, related only to the change in process, technology, or
organization. The relationship between variables of the EU funds and
management of innovative activities was verified. It has been
observed that the identified variables arising from the support in a
form of the EU funds had a positive effect on the level of earned
revenue, the increase in margin and in increase in employment as
well. It was confirmed that the implemented innovations supported
by the European funds have a positive impact on the performance of
the printing companies. Although there is a risk that due to the
decreasing demand for printing services such a high level of funding
the companies in this sector will significantly increase competition in
the long term, that may also contribute to the economic problems of
the enterprises belonging to the analyzed branch.
Abstract: Large scale Indian manufacturers started
implementing Six Sigma to their supply core to fulfill the endless
need of high quality products. As well, they initiated encouraging
their suppliers to apply the well-ascertain SS management practice
and kept no resource for supplier enterprises, generally small midsized
enterprises to think for the admittance of Six Sigma as a quality
promotion drive. There are many issues to study for requisite changes
before the introduction of Six Sigma in auto SMEs. This paper
converges on impeding factors while implementing SS drive and also
pinpoints the gains achieved through successful implementation. The
result of this study suggest some operational guidelines for effective
implementation of Six Sigma from evidences acquired through
research questionnaire and interviews with industrial professionals,
apportioned to assort auto sector mid-sized enterprises (MSEs) in
India.
Abstract: Economic development and growth are significantly
linked to the consistent and sustainable sector of small and medium
enterprises (SMEs). Banks are the frontrunners in financing and
advising SMEs. The main objective of the study is to assess the
tendency of SMEs to use the Islamic bank. Model was developed
using quantitative method with a hypothetical-deductive testing
approach. Model (N = 364) used primary data on the tendency of
SMEs to use Islamic banks gathered from questionnaire. It is found
by Mann-Whitney test that the tendency to use Islamic bank varies
between those firms which consider formal financing with the ones
relying on informal financing with the latter tends more to use
Islamic bank. This study can serve academic researchers, policy
makers, and developing countries as a model of SMEs’ desirability to
Islamic banking.
Abstract: The aim of this study is to empirically investigate the
mediating impact of export performance (EP) between technological
advancement capabilities and business performance (BP) of
Malaysian manufacturing micro, small and medium sized enterprises
(MSME’s). Firm’s technological advancement resources are
hypothesized as a platform to enhance both exports and BP of
manufacturing MSMEs in Malaysia. This study is twofold, primary it
has investigated that technological advancement capabilities helps to
appreciates main performance measures noted in terms of EP and
Secondly, it investigates that how efficiently and effectively
technological advancement capabilities can contribute in overall
Malaysian MSME’s BP. Smart PLS-3 statistical software is used to
know the association between technological advancement
capabilities, MSME’s EP and BP. In this study, the data was
composed from Malaysian manufacturing MSME’s in east coast
industrial zones known as the manufacturing hub of MSMEs. Seven
hundred and fifty (750) questionnaires were distributed, but only 148
usable questionnaires are returned. The finding of this study indicated
that technological advancement capabilities helps to strengthen the
export in term of time and cost efficient and it plays a significant role
in appreciating their BP. This study is helpful for small and medium
enterprise owners who intend to expand their business overseas and
though smart technological advancement resources they can achieve
their business competitiveness and excellence both at local and
international markets.
Abstract: Food supply chain is one of the most complex supply
chain networks due to its perishable nature and customer oriented
products, and food safety is the major concern for this industry. IT
system could help to minimize the production and consumption of
unsafe food by controlling and monitoring the entire system.
However, there have been many issues in adoption of IT system in
this industry specifically within SMEs sector. With this regard, this
study presents a novel approach to use IT and tractability systems in
the food supply chain, using application of RFID and central
database.
Abstract: This paper seeks to assess the implications of bank
consolidation on lending, which largely determine the survival and
performance of small and medium scale enterprises and in turn the
development of the Nigerian economy. Ordinary least square
technique, correlation matrix test and Granger –causality test were
employed to measure the extent to which lending to small and
medium scale enterprises were influenced. The result showed that
bank deposit (BD) impacted on lending to small and medium scale
enterprises. Commercial and merchant bank lending rate had
statistically insignificant effect on the dependent variable. There is a
shift of focus by commercial banks from small and medium scale
enterprises (small customers) to major investors (big customers).
While micro finance banks work hard at providing funds to small and
medium scale entrepreneurs, their capacity to meet the needs of these
entrepreneurs is constrained. The capital and deposits of micro
finance bank should be boosted in order to effectively support small
and medium scale enterprises through loans.
Abstract: This paper seeks to assess the implications of bank
consolidation on the performance of small and medium scale
enterprises in the Nigerian economy. Multiple linear regression
technique and correlation matrix test were employed to measure the
extent to which small and medium scale enterprises asset size,
survival and access to credit were influenced. The result showed that
bank deposit (BD) and bank credit (L or BC) impacted on asset size
and survival of small and medium scale enterprises. None of the
variables had significant impact on SMEs access to credit. There is a
shift of focus by commercial banks away from small and medium
scale enterprises (small customers), which is evidenced by the
significant negative influence of bank credit to both the survival and
asset size of small and medium enterprises. While micro finance
banks work hard at providing funds to small and medium scale
entrepreneurs, their capacity to meet the needs of these entrepreneurs
is constrained. CBN should make policies that will boost micro
finance bank’s capital and also monitor closely the management of
the banks to ensure prudent financing of small and medium scale
investments.
Abstract: Financial innovations can be regarded as the cause
and the effect of the evolution of the financial system. Most of
financial innovations are created by various financial institutions for
their own purposes and needs. However, due to their diversity,
financial innovations can be also applied by various business entities
(other than financial institutions).
This paper focuses on the potential application of financial
innovations by non-financial companies. It is assumed that financial
innovations may be effectively applied in all fields of corporate
financial decisions integrating financial management with the risk
management process. Appropriate application of financial
innovations may enhance the development of the company and
increase its value by improving its financial situation and reducing
the level of risk. On the other hand, misused financial innovations
may become the source of extra risk for the company threatening its
further operation.
The main objective of the paper is to identify the major types of
financial innovations offered to non-financial companies by the
banking system in Poland. It also aims at identifying the main factors
determining the creation of financial innovations in the banking
system in Poland and indicating future directions of their
development.
This paper consists of conceptual and empirical part. Conceptual
part based on theoretical study is focused on the determinants of the
process of financial innovations and their application by the nonfinancial
companies. Theoretical study is followed by the empirical
research based on the analysis of the actual offer of the 20 biggest
banks operating in Poland with regard to financial innovations
offered to SMEs and large corporations. These innovations are
classified according to the main functions of the integrated financial
management, such as financing, investment, working capital
management and risk management.
Empirical study has proved that the biggest banks operating in the
Polish market offer to their business customers many types and
classes of financial innovations. This offer appears vast and adequate
to the needs and purposes of the Polish non-financial companies. It
was observed that financial innovations pertained to financing
decisions dominate in the banks’ offer. However, due to high
diversification of the offered financial innovations, business
customers may effectively apply them in all fields and areas of
integrated financial management. It should be underlined, that the
banks’ offer is highly dispersed, which may limit the implementation
of financial innovations in the corporate finance. It would be also
recommended for the banks operating in the Polish market to
intensify the education campaign aiming at increasing knowledge
about financial innovations among business customers.
Abstract: The use of Flexible AC Transmission System
(FACTS) devices in a power system can potentially overcome
limitations of the present mechanically controlled transmission
system. Also, the advance of technology makes possible to include
new energy storage devices in the electrical power system. The
integration of Superconducting Magnetic Energy Storage (SMES)
into Static Synchronous Compensator (STATCOM) can lead to
increase their flexibility in improvement of power system dynamic
behaviour by exchanging both active and reactive powers with power
grids. This paper describes structure and behaviour of SMES,
specifications and performance principles of the STATCOM/SMES
compensator. Moreover, the benefits and effectiveness of integrated
SMES with STATCOM in power systems is presented. Also, the
performance of the STATCOM/SMES compensator is evaluated
using an IEEE 3-bus system through the dynamic simulation by
PSCAD/EMTDC software.
Abstract: A new fast growing trend in tourism is ecotourism, in
which tourists visit natural ecosystems under low impact, nonconsumptive
and locally oriented activities. Through these activities
species and habitats are maintained and typically, underdeveloped
regions are emphasized. Ecotourism provides a great alternative,
especially for rural and undeveloped area. At the same time, despite
its many benefits, it also poses many risks for the naturally protected
areas. If ecotourism is practiced improperly degradation and
irreversible damages could be the unwanted result. In addition, the
lack of MSc programs in the field of Ecotourism in Europe makes it a
necessity to be developed. Such an MSc program is being
implemented with the lead partner the Technical University of
Madrid. The entire partnership has six Universities, seven SMEs and
one National Park from seven different countries all over Europe.
The MSc will have 10 educational modules that will be available
online and will prepare professionals that will be able to implement
ecotourism in a sustainable way. Only through awareness and
education a sustainable ecotourism will be achieved in the protected
areas of Europe.
Abstract: Given the limited research on Small and Mediumsized
Enterprises’ (SMEs) contribution to Corporate Social
Responsibility (CSR) and even scarcer research on Swiss SMEs, this
paper helps to fill these gaps by enabling the identification of supranational
SME parameters. Thus, the paper investigates the current
state of SME practices in Switzerland and across 15 other countries.
Combining the degree to which SMEs demonstrate an explicit (or
business case) approach or see CSR as an implicit moral activity with
the assessment of their attributes for “variety of capitalism” defines
the framework of this comparative analysis. To outline Swiss small
business CSR patterns in particular, 40 SME owner-managers were
interviewed. A secondary data analysis of studies from different
countries laid groundwork for this comparative overview of small
business CSR. The paper identifies Swiss small business CSR as
driven by norms, values, and by the aspiration to contribute to
society, thus, as an implicit part of the day-to-day business. Similar to
most Central European, Mediterranean, Nordic, and Asian countries,
explicit CSR is still very rare in Swiss SMEs. Astonishingly, also
British and American SMEs follow this pattern in spite of their strong
and distinctly liberal market economies. Though other findings show
that nationality matters this research concludes that SME culture and
an informal CSR agenda are strongly formative and superseding even
forces of market economies, nationally cultural patterns, and
language. Hence, classifications of countries by their market system,
as found in the comparative capitalism literature, do not match the
CSR practices in SMEs as they do not mirror the peculiarities of their
business. This raises questions on the universality and
generalisability of unmediated, explicit management concepts,
especially in the context of small firms.
Abstract: The paper presents a new method for efficient
innovation process management. Even though the innovation
management methods, tools and knowledge are well established and
documented in literature, most of the companies still do not manage it
efficiently. Especially in SMEs the front end of innovation - problem
identification, idea creation and selection - is often not optimally
performed. Our eMIPS methodology represents a sort of "umbrella
methodology" - a well-defined set of procedures, which can be
dynamically adapted to the concrete case in a company. In daily
practice, various methods (e.g. for problem identification and idea
creation) can be applied, depending on the company's needs. It is
based on the proactive involvement of the company's employees
supported by the appropriate methodology and external experts. The
presented phases are performed via a mixture of face-to-face
activities (workshops) and online (eLearning) activities taking place
in eLearning Moodle environment and using other e-communication
channels. One part of the outcomes is an identified set of
opportunities and concrete solutions ready for implementation. The
other also very important result is connected to innovation
competences for the participating employees related with concrete
tools and methods for idea management. In addition, the employees
get a strong experience for dynamic, efficient and solution oriented
managing of the invention process. The eMIPS also represents a way
of establishing or improving the innovation culture in the
organization. The first results in a pilot company showed excellent
results regarding the motivation of participants and also as to the
results achieved.
Abstract: Flexible AC Transmission Systems (FACTS) is
granting a new group of advanced power electronic devices emerging
for enhancement of the power system performance. Unified Power
Flow Controller (UPFC) is a recent version of FACTS devices for
power system applications. The back-up energy supply system
incorporated with UPFC is providing a complete control of real and
reactive power at the same time and hence is competent to improve
the performance of an electrical power system. In this article, backup
energy supply unit such as superconducting magnetic energy storage
(SMES) is integrated with UPFC. In addition, comparative
exploration of UPFC–battery, UPFC–UC and UPFC–SMES
performance is evaluated through the vibrant simulation by using
MATLAB/Simulink software.
Abstract: MSMEs are regarded as the sunrise sector of the
Indian economy in view of its large potential for growth and likely
socio economic impact specifically on employment and income
generation. In today’s competitive business environment, global
competition forces companies to continuously seek ways of
improving their products and services. The pressure on organizations
to adapt to new technologies and external threats requires
resourcefulness, creativity and innovation. Market has become more
open, competitive and customers more demanding. Without
continuous technology innovation, no organization can ever remain
competitive. Innovations reflect a critical way in which organizations
respond to either technological or market challenges. The need of the
market is to deliver high quality products through continuous
changing in features in product, improve existing products, reduce
their cost, and improve employee skills, training, technology
infrastructure and financial policies. Therefore, the key factor of
organization’s ability to change is innovation. The study presents a
detailed review of literature on the role of technology innovation in
improving manufacturing performance of industries.
Abstract: This paper examines international marketing in
business practice of Czech exporting small and medium-sized
enterprises (SMEs) with regard to the strategic perspectives.
Research was focused on Czech exporting SMEs from Moravian-
Silesia region and their behavior on international markets. For
purpose of collecting data, a questionnaire was given to 262 SMEs
involved in international business. Statistics utilized in this research
included frequency, mean, percentage, and chi-square test. Data were
analyzed by Statistical Package for the Social Sciences software. The
research analysis disclosed that there is certain space for
improvement in strategic marketing especially in a marketing
research, perception of cultural and social differences, product
adaptation and usage of marketing communication tools.
Abstract: The English competence of Thai people was examined
in the context of knowledge of English in everyday life for Small and
Medium Entrepreneurs (SMEs), and also integrated with Second
language acquisition (SLA) students’ classroom. Second language
acquisition was applied to the results of the questionnaires and
interview forms. Levels of the need on English used for SME
entrepreneurs in Thailand, satisfaction on joining the street classroom
project were shown to be significantly high for some certain language
functions and satisfaction. Finding suggests that the language
functions on etiquette for professional use is essential and useful
because lesson learned can be used in the real situation for their
career. Implications for the climate of the street classroom are
discussed.
Abstract: E-business technologies, whereby business
transactions are conducted remotely using the Internet, present
unique opportunities and challenges for business. E-business
technologies are applicable to a wide range of organizations and
small and medium-sized enterprises (SMEs) are no exception. There
is an established body of literature about e-business, looking at
definitions, concepts, benefits and challenges. In general, however,
the research focus has been on larger organizations, not SMEs. In an
attempt to redress the balance of research, this paper looks at ebusiness
technologies specifically from a small business perspective.
It seeks to identify the possible barriers that SMEs might face when
considering adoption of the e-business concept and practice as part of
their business process change initiatives and implementation. To
facilitate analysis of these barriers a conceptual framework has been
developed which outlines the key conceptual and practical challenges
of e-business implementation in SMEs. This is developed following a
literature survey comprised of three categories: characteristics of
SMEs, issues of IS/IT use in SMEs and general e-business adoption
and implementation issues. The framework is then empirically
assessed against 7 SMEs who have yet to implement e-business or
whose e-business efforts have been unsatisfactory. Conclusions from
the case studies can be used to verify the framework, and set
parameters for further larger scale empirical investigation.
Abstract: In the UK, flooding is responsible for significant
losses to the economy due to the impact on businesses, the vast
majority of which are Small and Medium Enterprises (SMEs).
Businesses of this nature tend to lack formal plans to aid their
response to and recovery from disruptive events such as flooding.
This paper reports on work on how an agent-based model (ABM) is
being developed based on interview data gathered from SMEs at-risk
of flooding and/or have direct experience of flooding. The ABM will
enable simulations to be performed allowing investigations of
different response strategies which SMEs may employ to lessen the
impact of flooding, thus strengthening their resilience.
Abstract: The purpose of this research was to identify factors
that influenced the success of e-commerce implementation within
SMEs businesses. In order to achieve the objectives of this research,
the researcher collected data from random firms in Thailand, both the
users and those who are not using the e-commerce. The data was
comprised of the results of 310 questionnaires, as well as 10
interviews with owner/managers of businesses who are currently
using e-commerce successfully. The data were analyzed by using
descriptive statistics, which included frequency, percentages, mean,
and the standard deviation of pertinent factors. Independent t-test and
one-way ANOVA test were also used. The findings of this research
revealed that 50% of all the firms surveyed had e-commerce website,
whereas, over 20% of all firms surveyed had developing an ecommerce
strategy. The result findings also indicate that
organizational factors, technological factors and environment factors
as significant factors effecting success of e-commerce
implementation in SMEs. From the hypotheses testing, the findings
revealed that the different level of support use ecommerce by
owner/manager had different success in e-commerce implementation.
Moreover, the difference in e-commerce management approach
affected the success in terms of higher total sales for the business or
higher number of retained or returning customers.
Abstract: Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds.Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources.Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund.The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.