Strategic Management of Micro, Small and Medium Enterprises (MSME’s): Know your Entrepreneur-KYE (Profile of Entrepreneurs) (original) (raw)

Business Success Review from Entrepreneur Orientation, Entrepreneur Competency, and Entrepreneur Leadership study on Small and Medium Enterprises (SMEs) in Mataram City

East Asian Journal of Multidisciplinary Research

Small and Medium Enterprises (SMEs) must have the capability and strategy to seize opportunities and renew the market. The business's success shows by being able to survive and be able to provide prosperity for entrepreneurs. This research examines business success in SMEs in Mataram City, which is associated with entrepreneurial orientation, entrepreneurial competence, and entrepreneurial leadership. The research sample takes from all SMEs in Mataram City, which has official permission from the government. Data collection was carried out by distributing questionnaires to SME leaders. The results show that entrepreneurial orientation, entrepreneurial competence, and entrepreneurial leadership can be aspects that can increase business success.

The Relationship between Entrepreneurship and Strategic Management in Small Scale Businesses: An Empirical Assessment of Developing Competitiveness

International Journal of Business and Social Science, 2018

The success of small and medium-sized enterprises (SMEs) is dependent on many factors, some of which are the dominant and prevailing character traits of entrepreneurs. The aim of the study is to examine the five attributes of entrepreneurs, namely; risk-taking, proactiveness, innovativeness, aggressiveness, and autonomy with regard to the success of the business and in particular with the development of competitiveness in the marketplace. The empirical study consisted of 70 small and medium-sized businesses and their owners in Jordan. A questionnaire was formulated and distributed to analyze the opinions of the entrepreneurs in relation to the importance of strategic management pursued by the entrepreneurs. The findings reveal significant relationship between innovative and collaborative entrepreneurs and the success of business. In a similar way, a significant and positive correlation has been found between business success and innovative and proactive entrepreneurs. In contrast, it has been revealed that the contribution of innovative and risk-taking entrepreneurs is not important in the success of business. Similarly, there was an insignificant and negative correlation between business success and a competitively aggressive and proactive entrepreneur. Although, this research revelation would help entrepreneurs to attain success; it is recommended that other studies shouldbe conducted taking the attributes examined in the study and other traits of the entrepreneurs into consideration.

Problems Faced by Entrepreneurs to Startup the MSMEs -A Case Study of Visakhapatnam City

An entrepreneur is one who plays significant role in the economic development of a country. Basically an entrepreneur can be regarded as a person who has the initiative, skill and motivation to set up a business or an enterprise of his own and who always looks for high achievement. But now there is so ma ny problems faced by entrepreneurs to start up the Units i.e., Lack of Skill Development and Training, Marketing and Procurement, Lack of Infrastructure, Poor Technology Base, etc. Case description: One of the requirements for growth, creativity as well as entrepreneurship within societies is to study their problems for establishing the business. Our sample includes 230 Micro, Small and Medium Enterprises that were established during 2004 to 2014 in District Industrial Centre in Visakhapatnam district. Data was collected through questioners around general " manager/entrepreneur " among all categories of micro, small and medium business. Discussion and Evaluation: The purpose of this study is to study the problems faced by entrepreneurs in establishing Micro, Small and Medium Enterprises sector. The results of this study are helpful to the policy makers to frame suitable entrepreneurship development strategies to develop entrepreneurs and to prevent business failure. Conclusions: Our findings revealed that there is significant difference in between the individual and administrative factors for establishing of the units.

Performance of Entrepreneurs in North Eastern Region

Indian Research Journal of Extension Education, 2022

Entrepreneurship development through micro enterprise is an economic venture by which a large number of people can be changed within a short period of time especially from the point of view of employment generation. It provides tremendous opportunities for an entrepreneur to start a new creation. It helps to change the life of an entrepreneurs into a new direction. For changing the life of an entrepreneur, motivation is very essential, because without motivation no one can choose entrepreneurships as a profession. As we know it very well, that motivation is the ultimate key of starting a new venture in any trade. So it is very much important to motivate a person to understand his or her inner qualities to start a new profession for economic development. This study was conducted in the state of Assam. The nature of the study was both Exploratory and Descriptive. For selecting the representative sample for the study, simple random sampling method was adopted for selection of the distr...

Impact of Entrepreneurial Motivation, Competence and Orientation on Business Performance: A Study on Msmes Owners in Kollam District of Kerala

Zenodo (CERN European Organization for Nuclear Research), 2022

This study addresses the relationship between entrepreneurial motivation, competence and orientation on organizational performance in the (Micro, Small & Medium Enterprises) MSMEs Kollam district of Kerala. Entrepreneurial motivation, competence and orientation is an asset especially for those who are engaged in micro, small and medium enterprises and these factors becomes a crucial value to make a good business performance. This study further classified entrepreneurial motivation, competence and orientation into variables such as need for achievement, self-efficacy and external environment, technical competence, marketing competence, financial competence, risk taking, proactiveness, innovation that relates to organizational performance. The sample selected by utilizing purposive sampling technique and sample size is 200 owners of small and medium organizations in Kollam district by using questionnaire. Both SPSS and MS Excel, correlation, multiple regression analysis were used for data analysis. The main findings of the study revealed that there was a positive relationship between entrepreneurial motivation, competence and orientation and organizational performance. The higher level of organisation performance can be achieved through three factors such as entrepreneurial motivation, competence and orientation. All the managerial implications will help to managers of the small and medium scale organizations to making the decisions on behalf of achieving entrepreneurial goals and objectives. The study also suggested that incorporate other variables such as characteristics of the business environment, entrepreneurial behaviour, market orientation, and other factors that affect business performance.

Impact of Effective Entrepreneurship and Strategic Management on Business Success: An Empirical Study of SMEs in Malaysia

Global Journals™ Incorporated, 2018

Purpose: This study aims to explore and develop a clearer understanding of the factors that influence success in Malaysian small and medium enterprises by implementing entrepreneurship and strategic management, as perceived by local owner and/or managers. Design/Methodology/Approach: Using a qualitative approach, fifteen in-depth face-to-face semi-structured interviews were conducted with selected owner-managers of SMEs, forming a judgmental selection, to explore their experiences, beliefs, and attitudes with respect to the external factors of success. Findings: The study suggested that there are three generalized factors that influence success and performance in SMEs based on the entrepreneur's perceptions: the "owner and manager attributes" which involves the language skills factor, financial and networking partnership, and business characteristics with a focus on the location factor, which was mainly associated with the selected districts in Malaysia. The importance of financial resources stemmed from the substantial challenges faced by SMEs in Malaysia. A response to these challenges often adopted an equity model of financial resources. Furthermore, the concepts of conduct, equipment, and commitments, clearly explained the importance of a good infrastructure to the appreciation of success in this type of business. Abstract-Purpose: This study aims to explore and develop a clearer understanding of the factors that influence success in Malaysian small and medium enterprises by implementing entrepreneurship and strategic management, as perceived by local owner and/or managers. Design/Methodology/Approach: Using a qualitative approach, fifteen in-depth face-to-face semi-structured interviews were conducted with selected owner-managers of SMEs, forming a judgmental selection, to explore their experiences, beliefs, and attitudes with respect to the external factors of success. Findings: The study suggested that there are three generalized factors that influence success and performance in SMEs based on the entrepreneur's perceptions: the "owner and manager attributes" which involves the language skills factor, financial and networking partnership, and business characteristics with a focus on the location factor, which was mainly associated with the selected districts in Malaysia. The importance of financial resources stemmed from the substantial challenges faced by SMEs in Malaysia. A response to these challenges often adopted an equity model of financial resources. Furthermore, the concepts of conduct, equipment, and commitments, clearly explained the importance of a good infrastructure to the appreciation of success in this type of business. Originality/Value: The study contributes to the understanding of the impact of critical external factors on the success of SMEs in Malaysia. The three significant factors could be considered to be ways of understanding the external environment by small business owners and managers, allowing the impact of external factors to become part of the way that the small business owners conduct their business.

PROBLEMS FACED BY ENTREPRENEURS: A SPECIAL REFERENCE TO MICRO AND SMALL ENTREPRENEURS IN MUMBAI AND PUNE

The MSME's in India faces large number of issues starting from finances, to location to competition. It takes a lot survive in this highly competitive world. Through it all it's the entrepreneur who faces all of these factors. It is the entrepreneur who plays a major role in the economic development of the economy. It is he/she who has the passion, skill and zeal to start a venture on his/her own and continually work towards the excellence and the growth of the same. He/she works as a catalyst for change and also works towards the development of the people and places around him. He/she is a person who ideates and executes a plan first in his mind and then gets along with a team to actually implement his thoughts and ideas, thus making sure that he progresses along with his team and the productive development of the enterprise that he has started. He executes new techniques, new plans and ideas with care. But now there are so many problems he faces which includes the sources of capital, finding honest suppliers, finding loyal customers, finding right employees, unforecasted competition and also keeping in mind the ever changing industrial trends, rules and regulations brought up by the government. Objective of the Study Many researches and studies have been conducted to study the challenges, problems and risks faced by entrepreneurs in India. However very few researchers have made an in-depth study on the same, this study is focused on a detailed analysis of the kinds of problems faced by entrepreneurs. Methodology The study involves both the primary and secondary data and is empirical in nature with a sample size of 263 respondents taken randomly from the area of Mumbai and Pune in the state of Maharashtra. Limitations The study is based specifically in Mumbai and Pune, Maharashtra (only) wherein the entrepreneurs are selected at random. This research is based on the data received by interviewing the respondents personally, hence the given figures, to some extent, have the researchers' perception to the reply given by the respondent. Also, some respondents choose not to answer to some questions as they were unaware, did not face the situations or did not remember the situations accurately.

Strategic Entrepreneurship Framework for Small and Medium Enterprises

International Journal of Academic Research in Business and Social Sciences, 2021

Small and medium enterprises (SME) businesses are important economic growing forces, particularly in Malaysia through their significant economic contribution towards business population and employment creation. The aim of this study is to develop a framework integrating fundamental strategic entrepreneurship elements that support business growth in the context of engineering or technology-based firms within the Malaysian SME sector. Through interviews with SME firm owners and senior management personnel, common strategic entrepreneurship practices that significantly influence business growth were identified and converged into a framework. Findings revealed that the main elements practiced by the SME firms can be categorized as People, External, Innovation Approach and Internal. People element was most referred to by the research participants, followed by the other elements respectively. A new model was developed to depict these elements and is referred to in this study as the PIIE Entrepreneurial Model. The most common limitation highlighted by the research participants was on the communication and collaboration gap between the older and younger generation of employees. The research participants also reacted to the financial challenges faced especially in terms of sourcing grants or funds for the businesses. This study should impart useful insights for policy makers and provide SME strategy practitioners or leaders with strategic entrepreneurship guidelines to help improve businesses and SME sector's competitiveness.

Impact of Entrepreneurial Characteristics on the Performance of Small Scale Enterprises in the District of Vavuniya

This study examine the impact of entrepreneurial characteristics on the performance of small scale enterprises in the district of Vavuniya. This is with a view to evaluate the entrepreneurial characteristics impact on business performance and find out which entrepreneurial characteristics are most important to influence on business performance. Entrepreneurial characteristics were conceptualized within the combinations of achievement competencies, planning competencies and power competencies. Primary data, through questionnaire survey with direct personal interview techniques were collected from the 56 sample of small scale entrepreneurs who are functioning in the district of Vavuniya. Data were analysed using descriptive and inferential statistics. Also, correlation analysis and regression analysis were carried out to examine the relationship between contextual variables and business performance with the aid of Statistical Packages for Social Sciences (SPSS). This study hypothesize...